Date: Dec 4, 2018
BEIJING (Asian Metal) 4 Dec 18 – Currently, mainstream prices for Chinese ferrovanadium 50%min drop to RMB387,000-390,000/t (USD112.38-113.26/kg V) Inc-VAT EXW D/A 180 days, down by RMB14,000/t (USD4.07/kg V) from late last week. Consumers just purchase based on urgent need, and most producers lack confidence for the market. Insiders believe prices would keep decreasing in the coming week.
A producer in South China quotes ferrovanadium 50%min at RMB388,000/t (USD112.67/kg V) at present, down by RMB17,000/t (USD4.94/kg V) from last week. “It’s hard to sell at the moment, as prices are dropping. Our consumer clients are waiting for lower prices, and trader clients even don’t consider building any stock at the moment,” said the source. Their last deal was made two weeks ago, when they sold 20t at RMB480,000/t (USD139.39/kg V). Considering the inquiries are rare, he believes mainstream prices would drop to around RMB350,000/t (USD101.64/kg V) in the coming week.
