BEIJING (Asian Metal) 3 Jan 20 – Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB98,000-101,000/t (USD28.1-29.0/kg V) EXW D/A 180 days, the same as last week. Consumers only make purchase according to urgent need and the demand keeps soft. Insiders believe that prices of ferrovanadium would stay weak in the coming week.
A trader in South China quotes their ferrovanadium 50%min at RMB101,000/t (USD29.0/kg V) EXW D/A 180 days and can accept RMB100,000/t (USD28.7/kg V) for firm bids, unchanged from last week. “I received an inquiry for 10t this Tuesday. However, the buyer only wanted to buy at no more than RMB98,000/t (USD28.1/kg V),” said the source. Their last deal was made late last week, when they sold 10t at RMB100,000/t (USD28.7/kg V). Considering inquiries are rare to see at the moment, he believes that prices of ferrovanadium would keep weak in the coming week.
With a regular trading volume of 50tpm, they sold 550t in 2018 and 500t in 2019. They sold 30t in December, down by 20t from November, holding 15t of stocks, the same as last month.
Another trader in South China noted the current price for ferrovanadium 50%min he received stands at RMB98,500/t (USD28.3/kg V) EXW D/A 180 days, unchanged from last week. “We just sold 20t at RMB97,000/t (USD27.9/kg V) EXW D/P this Monday to one of our regular clients. Our major client reduced their consumption from 30tpm to 10tpm now and it’s hard for suppliers to increase their quotation,” said the source. He believes that prices of ferrovanadium would stay steady in the coming week.
With a regular trading volume of 30tpm, they sold 350t in 2018 and 300t in 2019. They sold 15t in December, down by 15t from November. They have 20t of stocks in hands now, down by 10t from last month.
www.asianmetal.com
