Metal Bulletin's quotation ticked up to $24.70-25.60 per kg on Friday, from $24.60-25.30 on Wednesday, and most market participants expect further rises in the next few days.
外盘报价显示，周五欧洲钒铁价格自周三的24.60-25.30美元/千克上涨至24.70-25.60美元/千克。并且，大多数市场参与者认为后期价格仍将继续拉涨。
There are also continuing indications that a two tier market may be developing, as consumers are able to buy at consistently lower prices, while traders appear to be buying material at the top end of the quotation, and very little business has been concluded in the middle of the range.
有各种迹象表明，欧洲钒铁市场正发生双重变化。一方面，下游商家依旧能够购买到低价货源；另一方面，中间商以高价从市场充收购原料，但在报价区间范围内几乎没有实质性的成交达成。
"It's looking strong - the demand is there and we don't see it coming off. " a trader said.
"Traders are thinking the market is going up and they're covering their short positions… When they realise they've bought too much, it will come down, but [right now], ferro-vanadium is substantially undervalued," he added.
“商家考虑提高产品售价，他们纷纷开始补仓。当他们意识到他们已经买了太多货源，产品价格可能或走低。但现在钒铁价格被严重低估”，他补充道。
There is also a possible shortage of material, according to the trader, as producers are out of the market, which could also help to support prices, although consumer business is rare.
"There's no consumer business any more, but traders are definitely trying to find material," a producer said. "There's definitely not much left below $25 [per kg], but there's not much above $25.50 yet. We don't have much to sell for August, though."
The sanctions on Russia, arising from its involvement in the unrest in Ukraine, have affected sentiment for the most part, a second trader said, adding that he believes it is unlikely the country will cease exports - and even if it does, other supply is available.
"I'm continuing to keep an eye on Russia for ferro-titanium but less for ferro-vanadium. For ferro-vanadium, there's South Africa and China. I think China has more of an influence," he said.
“我继续密切关注俄罗斯钒铁行情的动态，但是没有太多的变化。南非和中国都可以供应钒铁产品，但我认为中国对欧洲市场的影响更大”，他说。
Chinese offer prices have reportedly been rising, which is likely to have a knock-on effect on the European price in coming weeks.
中国提供的钒铁产品价格已经上调，在未来几周欧洲市场钒品价格可能会产生连锁反应。
（原文翻译自英国《金属导报》，如有疑问请参照原文为主）