Chinese FeV price rebounds after hitting bottom

China’s ferrovanadium market has been recovering gradually since mid-January from the recent bottom, thanks mainly to the price rise in raw materials and because supplies of the ferroalloy are expected to stay relatively tight for the time being, market sources said on Monday.

Data from Mysteel’s database showed that the domestic price of vanadium pentoxide as of last Friday saw a rise of Yuan 10,000/tonne ($1,485/t) from the recent low of Yuan 210,000/t over December 25-January 8 to reach Yuan 220,000/t including 16% VAT. The increase lent some support to the price of 50% grade FeV