Largo Inc T.LGO

Fastmarket MB Euro FeV surge 9.5%

[kha341]

 

Near 2-year high

Friday Feb 12, MB Euro FeV: Low= US$30.70/kg: High = 34.5/kg; Mid = US$32.60/kg, up 9.5% from US$29.775/kg quoted on Wed Feb 10.

Euro V2O5 should be up as well and expected to be in US$7/lb range.

[tradersway]

This post has been removed in accordance with Community Policy

[Therookie88]

  Last time ferrovanadium Was $32 the price for V205 was over $8 must be close to nudging $8 If anyone finds out would be greatly appreciated if it's posted here 

[kha341]

It is unlikely that Euro V2O5 mid-price can jumb from US$6.875 (from the last assessment on MB Feb 5) to US$8/lb.

[Therookie88]

Why not? I seen bigger falls then that on a weekly basis on the way down it has to work both ways lol.. guess we'll have to wait to find out 

[Therookie88]

Who was it that had a subscription to metal bulletin? Was it @lettinponiesrun?

[kha341]

V2O5 is the main raw material for making FeV among other ingredients.  The mid-price of Euro Fev (80% vanadium) = US$32.6/kg. At US$8/lb Euro V2O5 mid price would represent 54% of the Euro FeV (80%) mid price, a cost ratio  which is unlikely to be accepted by the Euro FeV makers unless they raise the FeV mid price even higher. As per conventional wisdom, the range is between 47% - 50