European vanadium prices continued to climb in February amid tightening prompt inventories and better-than-expected end-user demand, market sources told Fastmarkets.
Fastmarkets’ price assessment for ferro-vanadium basis 78% V min, 1st grade, ddp Western Europe rose by 4.9% to $33.70-34.70 per kg on Wednesday February 17 from $30.70-34.50 per kg on February 12. The market is at its highest since June 2019, when prices stood at $34.45-36.00 per kg.
The alloy’s price is up by more than 35% since the beginning of 2021, when it stood at $25.00-25.50 per kg, Fastmarkets’ data shows.
Ferro-Alloy Resources Limited (LON:FAR) is developing the giant Balasausqandiq vanadium deposit in Kyzylordinskaya oblast of southern Kazakhstan. The ore at this deposit is unlike that of nearly all other primary vanadium deposits and is capable of being treated by a much lower cost process.
