BEIJING (Asian Metal) 4 Mar 20 – With an annual production capacity of 3,600t for ferrovanadium, Yingkou Shengdong Refractories Co. LTD. stopped production from early March for overhaul.
“Few steel mills are making purchase now and the market demand stays soft. All of our producution so far this year are produced for the orders signed in January. As few buyers would like to buy at the moment, we would be out of production for overhaul for one month,” said the source. They are one of the major suppliers of Xinyu Steel company. She added, according to their cost, they quote ferrovanadium 50%min at RMB103,000/t (USD29.5/kg V) EXW D/P now.
Located in Yingkou, they are one of the ten major producers in Liaoning. They produced 160t of ferrovanadium 50%min in February, they won’t produce in March, holding 50t of stocks now.
Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB98,000-101,000/t (USD28.1-28.9/kg V) EXW D/A 180 days, unchanged from last week.
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