The uptrend in European vanadium prices continued to accelerate at the beginning of February while end-user demand increased amid tight prompt supplies, sources told Fastmarkets.
Fastmarkets’ assessment for the ferro-vanadium basis 78% V min, 1st grade, ddp Western Europe price was at $28.25-29.50 per kg on Friday February 5, up 2.2% from the midweek assessment of $28-28.50 per kg, when prices had moved to that level from $27.30-28 per kg on January 29.
The market is now trading at its highest since the end of February 2020, when prices traded at $27.50-29.95 per kg.
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.