BEIJING (Asian Metal) 18 Apr 19 – Qingshan Ferrovanadium Co., Ltd. in Chongyang County, Hubei Province suspended production of ferrovanadium early this week, leading to a decrease of 2,000tpy in capacity and 600tpy in actual output, according to a source.
“We see rare ferrovanadium orders from steel mills now. Besides, ferrovanadium prices keep falling without signs of rebound, and have been close to costs so far. Thus, we suspended production of the material,” said the source. He added that prices for ferrovanadium 50%min should be over RMB180,000/t (USD26,918/t) based on current prices for vanadium pentoxide flake, its raw material. But the target prices for buyers who would like to purchase are just around RMB160,000/t (USD2,3927/t).
The company produced 50t in March, unchanged from February, and holds no stocks now.
According to Asian Metal, mainstream prices for Chinese ferrovanadium 50%min were RMB170,000-173,000/t (USD25,422-25,871/t) EXW D/A 180 days this Wednesday, down by RMB7,000/t (USD1,047/t) from last week. Due to limited orders from downstream consumers, market participants are not so confident about the market outlook. In view of the steady prices for vanadium pentoxide flake, Chinese ferrovanadium prices are expected to be stable in the coming week.
www.asianmetal.com
