BEIJING (Asian Metal) 9 Apr 20 – Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB95,000-98,000/t (USD26.9-27.8/kg V) delivered D/A 180 days, the same as last week. The market demand keeps weak and prices of ferrovanadium showed huge downward trend. However, considering the cost keeps firm, insiders believe that mainstream prices of Chinese ferrovanadium would stay in a stalemate in the coming week.
A producer in North China quotes their ferrovanadium 50%min at RMB98,000/t (USD27.8/kg V) delivered D/A 180 days and they could accept RMB97,000/t (USD27.5/kg V) for firm bids more than 20t, unchanged from last week. “Our last deal was made early last week, when we sold 20t at RMB97,000/t (USD27.5/kg V),” said the source. He added, “I heard prices of raw material vanadium pentoxide flake 98%min stand firm at RMB93,000/t (USD6.1/lb V2O5) EXW D/P, the same as last week.” Considering the cost keeps firm, he believes that mainstream prices of ferrovanadium 50%min would stay in a stalemate in the coming week.
With an annual production capacity of 3,600t, they produced about 150t in March and expect the same volume in April, holding about 150t of stocks now.
A producer in Northeast China quotes their ferrovanadium 50%min at RMB96,000/t (USD6.3/kg V) EXW D/P and they could accept RMB95,000/t (USD6.2/kg V) for firm bids more than 10t, the same as last week. “We mainly sell the history inventory at the moment. There is no possible to buy raw materials in spot market to produce ferrovanadium as dealing prices stay lower than the cost,” said the source. They closed deal at RMB95000/t (USD26.9/kg V) for 10t to one of their regular clients late last week. He received the current prices for raw material vanadium pentoxide flake 98%min at RMB92,000/t (USD6/lb V2O5) EXW D/P, the same as last week. Considering the cost keeps firm, he believes that mainstream prices of ferrovanadium 50%min would keep steady in the coming week.
With a production capacity of 2,400tpy, they produced about 50t in March and expect the same volume in April. They have about 40t of stocks in hands at the moment.
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