BEIJING (Asian Metal) 2 Jul 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min are RMB126,000-129,000/t (USD36.8-37.7/kg V) EXW D/A 180 days, down by RMB6,000/t (USD1.8/kg V) from last week. As summer is coming, vanadium market keeps quite. Insiders believe prices of ferrovanadium would edge down in the coming week.
A producer in Northwest China quotes their ferrovanadium 50%min at RMB129,000/t (USD37.7/kg V) EXW D/A 180 days, down by RMB9,000/t (USD2.6/kg V) from last week. “Inquiries are hard to see at the moment as summer is here. We will reduce our production for 30% in July for lack of orders,” said the source. Their last deal was made two weeks ago, when they sold 20t to one of their regular clients at RMB133,000/t (USD38.9/kg V) delivered D/A 180 days. Considering the cost keeps high, he believes prices of this material would edge down in the coming week.
With an annual production capacity of 1,500t for ferrovanadium, they produced 120t in June and expect 85t in July, holding 30t of stock now.
A producer in North China quotes at RMB131,000/t (USD38.3/kg V) EXW D/A 180 days for their ferrovanadium 50%min and can accept RMB129,000/t (USD37.7/kg V) for firm bids, down by RMB6,000/t (USD1.8/kg V) from last week. “In the past two weeks, I received several inquiries from our regular clients.However, they all reduced their consumption volume as summer is here,” said the source. Their last deal was made in the middle of June, when they sold 20t of ferrovanadium 50%min at RMB132,000/t (USD38.6/kg V) delievered D/A 180 days. Considering the demand keeps quiet, he believes prices of this material would drop slightly in the coming week.
With an annual production capacity of 2,800t for ferrovanadium, they produced 30t in June and plan to produce 50t in July to build stock, holding no inventory now.
www.asianmetal.com
