BEIJING (Asian Metal) 4 Sep 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB137,000-140,000/t (USD38.2-39.0/kg V) EXW D/A 180 days, up by RMB2,000/t (USD0.6/kg V) from last week. As prices of raw material vanadium pentoxide flake increase slightly, producers try to increase their quotation for ferrovanadium accordingly. Insiders believe prices of ferrovanadium would keep firm in the coming week.
A producer in Jiangxi noted their quotation for ferrovanadium 50%min keeps at RMB140,000/t (USD39.0/kg V) EXW D/A 180 days and can accept RMB139,000/t (USD38.7/kg V) for firm bids now, up by RMB2,000/t (USD0.6/kg V) from last week. “Prices of vandium pentoxide flake 98%min keep around at RMB134,000/t (USD37.3/kg V) EXW D/P at the moment, up by RMB1,000/t (USD0.3/kg V) from last week. So we have to increase our quotation for ferrovanadium accordingly,” said the source. Their last deal was made last Monday, when they sold 30t at RMB137,000/t (USD38.2/kg V). He believes prices of ferrovanadium 50%min would stay firm in the coming week.
With an annual production capacity of 2,400t for ferrovanadium, they produced 160t in August and expect the same volume in September, holding 80t of stocks now.
A producer in Liaoning claimed the lowest price they can accept keeps at RMB139,000/t (USD38.7/kg V) EXW D/A 180 days at the moment, up by RMB1,000/t (USD0.3/kg V) from last week. “Generally, producing 1t rebar can consume 0.3kg vanadium. Though prices of rebar keep dropping, I don’t think prices of ferrovanadium would decline accordingly,” said the source. Considering the cost keeps high, he believes prices of ferrovanadium would keep firm in the coming week. Their last deal was made last Thursday, when they sold 20t of ferrovanadium 50%min at RMB138,000/t (USD38.5/kg V).
With production capacity of 2,400tpy for ferrovanadium, they produced 120t in August and expect the same volume in September. They have about 20t in hand now.
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