BEIJING (Asian Metal) 30 Dec 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB98,000-101,000/t (USD28.0-28.9/kg V) EXW D/A 180 days, unchanged from last week. Though producers refuse to drop their quotation to absorb orders, major steel mills won’t buy at high price level. Insiders believe that the market of ferrovanadium would stay in a stalemate in the coming week.
A producer in South China quotes their ferrovanadium 50%min at RMB98,500/t (USD28.2/kg V) EXW D/A 180 days, the same as last week. “We just sold 30t to one of our regular steel mill clients at RMB97,000/t (USD27.7/kg V) EXW D/A 180 days last Thursday,” said the source. He added, “We bought vanadium pentoxide flake 98%min at RMB92,500/t (USD6.1/lb V2O5) EXW D/P and the current quotation for ferrovanadium almost equals to our cost.” As few steel mills would accept higher price level, he believes that prices of ferrovanadium would keep in a stalemate in the coming week.
With an annual production capacity of 2,400t, they produced 140t in November and expect the same volume in December, holding 50t of stocks now.
A trader in South China claimed the current price for ferrovanadium 50%min he received stands at RMB98,000/t (USD28.0/kg V) EXW D/A 180 days, unchanged from last week. “We buy ferrovanadium 50%min from our regular supplier and they offer us this competitive price level,” said the source. They received an inquiry for 30t last Friday and the buyer wanted to buy at no more than RMB98,500/t (USD28.2/kg V) Delivered D/A 180 days. They accepted this order at last and would delivery one month later.
With a regular trading volume of 50tpm, they sold 600t in 2018 and have sold 500t so far this year. They expect to sell 30t in December, down by 20t from November, holding no stocks now, unchanged from last month.
www.asianmetal.com
