Date: Dec 28, 2018
Tokyo — Chinese traders have offered spot ferrovanadium at $69/kg CIF main Asian port to Asian traders Thursday, the lowest in almost six months, Japanese traders said.
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The spot prices have decreased by 30% from levels of around $100/kg CIF in the first week of December, and half of $140-$150/kg CIF in early November. “There are talks of offers at $60/kg, or $65/kg,” one Japanese trader said.
Spot Chinese ferrovanadium prices have been falling at a pace of $10/kg in a week in the past two months, on the back of softening rebar prices in China. The recent offer at $69/kg CIF Japan, however, is still higher than the 2017 price range of $25-$50/kg.
S&P Global Platts assessed spot rebar prices in China at Yuan 3,785/mt ($550/mt) ex-stock actual weight Wednesday, including 16% value-added tax. The assessment is for 18-25 mm diameter HRB400 rebar. Prices appeared to have risen from this year’s low of Yuan 3,600/mt recorded on November 27.
Ferrovanadium market participants said they hoped that the downfall in Chinese ferrovanadium prices would come to a stop soon.
