Ferrovanadium prices rise during European holidays, while ferromolybdenum prices remain relatively stable

Despite reduced demand, logistics difficulties have stimulated ferrovanadium sellers to increase prices, while the ferromolybdenum product market is more stable.

The New Year holiday is traditionally the off-season, but the price of ferrovanadium (75-80% V) has increased to $29.5-31.2/kg V DDP ($27.8-28.3/kg V DDP before Christmas). The price increase is mainly due to the ongoing problems with the Suez Canal, which have led to extremely unstable logistics conditions. In addition to a significant increase in delivery time, costs have also increased, which has forced some market participants to be hesitant to delay procurement.

At the same time, Hainan West Asia Group learned that the current quotation range for ferromolybdenum (60-70% Mo) is 48.5-49 USD/kg Mo DDP (the previous quotation range increased by 0.2 USD/kg Mo). The quotation for molybdenum oxide (57% Mo) is maintained at $20-20.5 per pound of Mo DDP.