BEIJING (Asian Metal) 3 Dec 19 – Currently, mainstream prices for Chinese ferrovanadium 80%min stand at USD28.5-29.5/kg V FOB China, down by USD0.5/kg V from last week. As prices in domestic market drop slightly during the past week, export prices drop accordingly. Insiders believe prices of export ferrovanadium would stay weak in the coming week.
A producer in Northeast China quotes their ferrovanadium 80%min at USD29.0/kg V FOB China now, down by USD0.5/kg V from last week. “I received an inquiry for 20t last Friday. However, when I quoted our price to the buyer, they don’t reply anymore,” said the source. He added, “I heard prices in European market stay at USD23.5/kg V in Rotterdam. Even with the VAT and tariffs, it’s still about USD1.0/kg V lower than domestic market.” Their last deal was made two weeks ago,when they sold 20t at USD28.5/kg V to one of their regular clients who needs for immediateshipment. Considering prices of domestic market keeps steady at the moment for high cost, he believes prices of export ferrovanadium would stay weak in the coming week.
With an annual production capacity of 1,200t for ferrovanadium 80%min, they produced 60t in November and expect the same volume in December, holding 20t of stocks at the moment.
A trader in South China claimed the current price for ferrovanadium 80%min he received stands at USD29.5/kg V FOB China and can buy at USD28.5/kg V for firm bids, down by USD1.0/kg V from last week. “Our European client needs 20t and we response for purchasing for them in China. I heard prices of raw material vanadium pentoxide flake 98%min stay at RMB95,000/t (USD6.2/lb V2O5) now, which means the current price for ferrovanadium 80%min almost equals to the cost,” said the source. They are discussing the details with the supplier at the moment and would close the deal at USD28.5/kg V FOB China within this week. Considering the cost keeps firm, he believes prices of export ferrovanadium would keep steady in the coming week.
With a regular trading volume of 30tpm, they sold 300t in 2018 and have sold 220t so far this year. They expect to sell 20t in December, the same with November, holding no stocks now, unchanged from last month.
www.asianmetal.com
