BEIJING (Asian Metal) 29 Apr 20 – Currently, mainstream prices of Chinese ferrovanadium 50%min stand at RMB98,000-100,000/t (USD27.7-28.3/kg) delivered D/A 180 days, up by RMB1,000/t (USD0.3/kg) from last week. As prices of raw material vanadium pentoxide flake 98%min stay firm during the past month, most producers of ferrovanadium tried to increase their quotation but few steel mills would like to buy at more than RMB100,000/t (USD28.3/kg). Insiders believe that mainstream prices of ferrovanadium would stay in a stalemate in the coming week.
A trader in South China quotes their ferrovanadium 50%min at RMB100,000/t (USD28.3/kg) delivered D/A 180 days and could accept RMB99,800/t (USD28.2/kg) for firm bids, up by RMB1,200/t (USD0.34/kg) from one month ago. “We sold 50t to one of our steel mill clients at USD99,800/t (USD28.2/kg) delivered D/A 180 days late last week,” said the source. Their last deal was made late March, when they sold 30t to another steel mill client at USD98,600/t (USD27.9/kg). None of their clients would like to buy at more than RMB100,000/t (USD28.3/kg) at the moment. Considering prices of raw material vanadium pentoxide flake 98%min kept firm during the past month, he believes that mainstream prices of ferrovanadium 50%min would stay in a stalemate in the coming week.
With a regular trading volume of 50tpm, they sold about 600t in 2019 and sold about 160t so far this year. They expect to sell 50t in April, up by 20t from March, holding no stocks now, the same as last month.
A producer in South China quotes their ferrovanadium 50%min at RMB99,000/t (USD28.0/kg) delivered D/P and could accept RMB99,000/t (USD28.0/kg) delivered D/A 180 days for firm bids more than 30t, up by RMB1,000/t (USD0.3/kg) from last week. “We signed a 30t contract with our regular client at RMB99,000/t (USD28.0/kg) delivered D/A 180 days this Monday,” said the source. As none suppliers of vanadium pentoxide flake 98%min would like to drop their quotation to promote sales, he believes that mainstream prices of ferrovanadium 50%min would stay firm in the coming week.
With an annual production capacity of 2,400t, they produced about 1,500t in 2019. They expect to produce about 100t in April, unchanged from March, holding about 40t of stocks now, down by 10t from last month.
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