BEIJING (Asian Metal) 23 Apr 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min are RMB175,000-178,000/t (USD52.2-53.0/kg V) EXW D/A 180 days, up by RMB5,000/t (USD1.5/kg V) from last week. As cheep stocks are reducing, the cost of new production keeps high, so ferrovanadium producers are trying to increase their quotation. However, considering the demand keeps weak, insiders believe prices of this material would stay steady in the coming week.
A producer in Northeast China quotes ferrovanadium 50%min at RMB180,000/t (USD53.6/kg V) EXW D/A 180 days and can accept at RMB178,000/t (USD53.0/kg V) for firm bids, up by RMB5,000/t (USD1.5/kg V) from last week. “We build raw material stock when prices keep at high level. The current quotation for ferrovanadium is our bottom and we won’t accept any orders if prices are lower than our bottom,” said the source. Considering the cost keeps high, he believes prices of this material would keep steady in the coming week though the demand keeps weak.
With an annual production capacity of 2,400t for ferrovanadium, they produced 120t in March and expect 80t in April for lack of orders, holding 15t of stock now.
A producer in South China quotes ferrovanadium 50%min at RMB175,000/t (USD52.2/kg V) EXW D/P and won’t accept any discount now, up by RMB4,000/t (USD1.2/kg V) from last week. “We just sold 10t at this price level to a regular client early this week. In the past week, I received several inquiries but seldom of them would like to make real purchase at the moment,” said the source. Considering the demand keeps weak, he believes prices of this material would stay weak stability in the coming week.
With an annual production capacity of 2,000t for ferrovanadium, they produced 150t in March and expect 120t in April, holding 20t of stock now.
www.asianmetal.com
