BEIJING (Asian Metal) 17 Jul 19 – As vanadium pentoxide suppliers firmed prices and held back from sales, Chinese ferrovanadium prices tended to rebound in the slack season. Currently, mainstream prices for Chinese ferrovanadium 50%min stand RMB129,000-132,000/t (USD18,750-19,186/t) EXW D/A 180 days, up by RMRB2,000/t (USD291/t) from last week. Although downstream transactions didn’t improve, ferrovanadium producers generally refuse orders at low prices forced by cost pressure. Chinese ferrovanadium prices are expected to be firm in the coming week.
A producer in Northeast China stated that their bottom price for ferrovanadium 50%min is RMB130,000/t (USD18,895/t) EXW D/P and RMB132,000/t (USD19,186/t) EXW D/A 180 days currently, up by RMRB2,000/t (USD291/t) from last week. The source said, “We signed long-term contract with a major vanadium pentoxide plant which could barely perform contract now. We wanted to purchase more based on downstream orders but were not satisfied.” They last sold 20t of the material at RMB128,000/t (USD18,605/t) EXW D/P early last week to a regular customer. As raw material supply is tight, the source expects prices for ferrovanadium to be firm in the coming week.
With an annual production capacity of 3,600t, the plant expects to produce 260t in July, unchanged from June, and holds 60t in stock now.
Another producer in Northeast China claimed that they last signed an order for 30t of ferrovanadium 50%min at RMB128,000/t (USD18,605/t) EXW D/P early this week, up by RMB3,000/t (USD436/t) from last week. The source said, “We last sold 30t of the material at RMB125,000/t (USD18,169/t) early last week. As raw material supply was short, we raised selling prices and downstream buyers have accepted the prices.” The source expects ferromanganese prices to be firm in the coming week due to the difficulty in sourcing raw material.
With an annual production capacity of 3,600t, the plant expects to produce 160t in July, down by 20t from June, and holds 30t in stock now.
www.asianmetal.com
