BEIJING (Asian Metal) 22 Oct 19 – Currently, mainstream import prices for Chinese ferrovanadium 50%min stand at USD34.0-35.0/kg V CIF China, down by USD1.0/kg V from last week. As prices of international market keep dropping, import prices decline accordingly. Insiders believe prices of import ferrovanadium would keep dropping in the coming week.
A trader in Northeast China quoted the import price for ferrovanadium 50%min at USD34.5/kg V CIF China now, down by USD0.5/kg V from last week. “We have about 840t of ferrovanadium 50%min in Ukraine, which are produced by scrap vanadium slag. The impurity elements are more than Chinese production, so we sell at lower prices than domestic market,” said the source. Their last deal was made early last week, when they sold 20t at USD35.0/kg V. He added, “Prices in European market have dropped to USD24.5/kg V in warehouse Rotterdam, down by USD1.0/kg V from early last week.” He believes import prices for ferrovanadium 50%min would drop by USD1.0/kg V accordingly in the coming week.
With a regular trading volume of 40tpm, they didn’t import in 2018 and have imported 60t this year. They expect to import 40t in October, up by 20t from September, holding 20t of stocks now.
A trader in Northwest China quoted their import ferrovanadium 50%min at USD34.2/kg V CIF China and can accept USD34.0/kg V for firm bids now, down by USD1.5/kg V from early last week. “Current prices for Chinese market keep around at RMB128,000/t (USD36.2/kg V). In order to increase market competitiveness, we can accept USD34.0/kg V for import ferrovandium 50%min now,” said the source. Their last deal was made late last week, when they sold 10t at this price level. Considering few steel mills would like to make purchase at the moment, he believes prices of import ferrovanadium 50%min would drop by USD0.5/kg V in the coming week.
With a regular trading volume of 50tpm, they didn’t import in 2018 and have imported 120t this year. They expect to import 50t in October, up by 25t from September, holding 20t of stocks now, unchanged from last month.
www.asianmetal.com
