BEIJING (Asian Metal) 18 Apr 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min are RMB170,000-173,000/t (USD50.9-51.8/kg V) EXW D/A 180 days, down by RMB7,000/t (USD2.1/kg V) from last week. Consumers only make purchase according to urgent need and the market keeps quiet. However, considering prices of raw material keep high, insiders believe prices would stay firm in the coming week.
A producer in South China quotes ferrovanadium 50%min at RMB175,000/t (USD52.4/kg V) EXW D/A 180 days and can sell at RMB173,000/t (USD51.8/kg V) for firm bids, down by RMB7,000/t (USD2.1/kg V) from last week. “I received some inquiries in the past week. However, when I offered our quotation, nearly no one would like to make purchase. I won’t drop prices anymore, as the cost keeps high,” said the source. He added, he heard the current price of raw material vanadium pentoxide 98%min stays at around RMB170,000/t (USD11.8/lb V) EXW D/A 180 days. He believes prices of ferrovanadium would stay firm in the coming week.
With an annual production capacity of 2,000t ferrovanadium, they produced 110t in March and expect 90t in April for lack of orders, holding 20t of stock now.
A producer in Northeast China also quotes ferrovanadium 50%min at RMB175,000/t (USD52.4/kg V) EXW D/A 180 days and can sell at RMB173,000/t (USD51.8/kg V) for firm bids, down by RMB7,000/t (USD2.1/kg V) from last week. “We are producing for the signed orders now. We didn’t receive any new orders in the past two weeks and we prepare to close the production line at the end of this month,” said the source. Their last deal was made two weeks ago, when they sold 20t at RMB198,000/t (USD59.2/kg V) delivered D/A 180 days. Considering the cost keeps high, he believes prices of ferrovanadium would be steady in the coming week.
With an annual production capacity of 1,200t ferrovanadium, they produced 60t in March and expect the same volume in April, holding 20t of stock now.
www.asianmetal.com
