FERRO-NIOBIUM SNAPSHOT: Prompt supply tight amid continued flows to China

Key data from Fastmarkets’ pricing session in Europe on Wednesday March 17.

ferro-niobium-snapshot-2021-03-17.jpg

Key drivers

  • 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.

Key quotes
“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

What to read next
UG2/MG chrome ore prices experienced major declines in the week to Tuesday July 12, dropping by $15 per tonne week on week, as the market saw the beginnings of a break in the continuing stalemate of recent weeks
The European charge and high-carbon ferro-chrome benchmark for the third quarter of 2022 has slumped by 16.7% from the previous quarter’s settlement to $1.80 per lb
Electric-arc furnace (EAF) steel production is on the rise as China strives to meet decarbonization targets
Prices for steel hollow sections in Northern and Southern Europe were flat in the week ended Wednesday July 27 amid minimal market activity
Seaborne iron ore concentrate and pellet prices fell during the week to Friday July 15 amid limited demand from steelmakers, market sources said
The prospects for large volume trades in China’s import steel scrap market could hinge on whether a large United Kingdom-origin bulk cargo successfully passes Chinese customs checks later this year, sources told Fastmarkets
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed