BEIJING (Asian Metal) 20 Jan 20 – Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB97,000-100,000/t (USD28.1-29.3/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.3/kg V) from last week. Most steel mills have finished the replenishment of their stocks before the Spring Festival and inquiries were rare to see at the moment. Insiders believe that prices of ferrovanadium would keep steady in the coming week.
A consumer in North China claimed the current price for ferrovanadium 50%min he received stands at RMB101,000/t (USD29.3/kg V) EXW D/A 180 days and they can buy at no more than RMB100,000/t (USD29.0/kg V) for firm bids, down by RMB1,000/t (USD0.3/kg V) from last week. “Our last deal was made late last December, when we bought 25t at RMB101,000/t (USD29.3/kg V) Delivered D/A 180 days. The goods arrived at our stock last Friday. We won’t make purchase again before February 8,” said the source. He added, “Our suppliers called us frequiently during the past week and they are in hurry to accept new orders for February.” Considering the supply situation keeps loose, he believes that prices of Chinese ferrovanadium would stay weak in the coming week.
With an annual consumption capacity of 360t, they consumed 300t in 2019, down by 50t from 2018. They expect to consume 20t in January, down by 10t from late last December, holding 30t of stocks now, up by 10t from last month.
A consumer in South China noted the current price for ferrovanadium 50%min he received stays at RMB100,000/t (USD29.0/kg V) Delivered D/A 180 days, down by RMB1,000/t (USD0.3/kg V) from last week. “We have finished all purchase plan before the Spring Festival and we have nothing to do before the holiday,” said the source of this company. He added, “We would start to make purchase after February 10. Nearly all producers have stopped production for the Spring Festival now.” Considering the physical distribution has stopped from late last week, he believes that prices of Chinese ferrovanadium would be steady in the coming week.
With an annual consumption capacity of 400t, they consumed 360t in 2019, up by 30t from 2018. They expect to consume 30t in January, the same as last December. They have 30t of stocks now, unchanged from late last month.
www.asianmetal.com
