RE: Article4 Jun 2019 21:16
Following on from this site:
Market confidence in China was shored up by recent price rises seen in the European market and growing buying interest from abroad, market sources said.Β
βWe received many inquiries from abroad this week. Though we have not been able to place any orders so far because of disagreement on prices, we believe this is a good sign for the market, indicating a recovery in buying interest from abroad,β a Chinese ferro-vanadium exporter said on May 30.Β
βWe would not lower our price further β if we could not achieve a much more favorable price in the export market, why do we bother to sell abroad?β the exporter added. βWe can just sell domestically.βΒ
Meanwhile, sentiment in the Chinese domestic market was also buoyed by an uptick in buying from domestic mills, which was widely interpreted by market participants as a sign that mills are switching back to using vanadium products as an alloying agent rather than previously price-competitive ferro-niobium products.Β
This resumption in buying from mills was insufficient to push up domestic prices significantly. This is because domestic ferro-vanadium and vanadium nitrogen suppliers made aggressive offers in a bid to capture orders from mills, market participants said.