Date: Oct 16, 2018
BEIJING (Asian Metal) 16 Oct 18 – Currently, the mainstream prices of Chinese ferrovanadium 50%min increase to RMB480,000-483,000/t (USD138.68-139.54/t) Inc-VAT EXW D/P, up by RMB61,000/t (USD17.62/t) from last week. As the supply of the raw material V205 remains tight and its price keeps high, it is believed Chinese ferrovanadium price will continue to soar in the coming week.
A producer in North China claimed that their quote of ferrovanadium 50%min is RMB490,000/t (USD141.57/t) at present, up by RMB65,000/t (USD18.78/t) from last Monday. “Downstream demand keeps strong at the moment and many new clients sent inquiry to us, but we can’t supply to all of them, because we can’t find enough raw material. We mainly arrange shipment for orders from long term consumers at the moment,” said the source. The last deal of this company was made last Friday, when they sold 10t at RMB470,000/t (USD135.79/t) to a consumer in South China. Considering the price of material V205 is growing fast, the source believes ferrovanadium prices will keep spiking in the coming week.
