FERRO-NIOBIUM SNAPSHOT: Prompt supply tight amid continued flows to China
Key data from Fastmarkets’ pricing session in Europe on Wednesday March 17.
- Prompt supply in Europe is limited and spot demand is good, market sources said.
- Availability in Europe has been tight since the second half of last year because China has been importing large volumes of material amid a better demand outlook than in Europe.
- But weakening prices for substitute ferro-vanadium could put some pressure on the ferro-niobium market, market sources added.
- Both ferro-vanadium and ferro-niobium are used in the production of steel rebar and can be used interchangeably to meet the required tensile strength in some steel products.
- Fastmarkets launched the weekly price assessment for ferro-niobium, delivered consumer works Europe, duty paid on Wednesday following an extended consultation period.
“There are small units passing hands but it’s more difficult to find larger lots. There is not a lot of material around. Availability is tight” – European trader 1
“The market has been relatively quiet and with vanadium prices dipping lately, traders are hesitant to take a position in ferro-niobium” – European trader 2