Date:Jun 27, 2018
BEIJING (Asian Metal) 27 Jun 18 – Mainstream prices for ferrovanadium 50%min increase sharply to RMB242,000-245,000/t (USD73.65-74.56/kg V) EXW D/A six months, soaring by RMB19,000/t (USD5.78/kg V) from last week, as some ferrovanadium producers were forced to suspend production for urgent need of vanadium pentoxide, the raw material, due to tight supply. Market participants predicted that prices for Chinese ferrovanadium would remain upward trend steadily in the coming week.
A producer in North China noted that his offer for ferrovanadium 50%min is RMB240,000/t (USD73.04/kg V) EXW D/P and RMB243,000/t (USD73.95/kg V) EXW D/A six months at present, both up by RMB19,000/t (USD5.78/kg V) from last week. He said, “We have no stocks in hand for selling as production slowed down for lack of raw materials. Based on the price for vanadium pentoxide flake 98%min at which we just purchased, the price for ferrovanadium 50%min should be at least RMB240,000/t (USD73.04/kg V) for profits, which is our bottom line.” He predicted that prices for Chinese ferrovanadium would remain stable upward trend in the coming week with an estimated increase of RMB5,000/t (USD1.52/kg V).
