BEIJING (Asian Metal) 24 Mar 20 – Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB97,000-100,000/t (USD27.4-28.2/kg V) delivered D/A 180 days, the same as last week. Inquiries are rare to see at the moment but suppliers refuse to drop their quotation as the cost keeps high. Insiders believe that mainstream prices of Chinese ferrovanadium would stay in a stalemate in the coming week.
A consumer in North China notes the current price for ferrovanadium 50%min he received stands at RMB100,000/t (USD28.2/kg V) delivered D/A 180 days, unchanged from last week. “Our last deal was made late last week, when we bought 10t at RMB99,900/t (USD28.2/kg V),” said the source. He added, “I learnt prices of vanadium pentoxide flake 98%min stay at RMB92,000/t (USD26.0/kg V) EXW D/P now, unchanged from last week.” Considering the cost keeps firm, he believes that mainstream prices of ferrovanadium would be steady in the coming week.
With an annual consumption capacity of 300t for ferrovanadium, they consumed 240t in 2019. They expect to consume 20t in March, the same as February, holding 10t of stocks now.
A consumer in South China claimes the current price for ferrovanadium 50%min he received stands at RMB100,000/t (USD28.2/kg V) delivered D/A 180 days, unchanged from last week. “Our last deal was made late last month, when we bought 30t at RMB102,000/t (USD28.8/kg V),” said the source. He added, “We are consuming the history stocks at the moment and we plan to make purchase in early April.” They reduced their consumption by 50% in February because of the virus. Their target price stands at RMB97,000/t (USD27.4/kg V). He believes that mainstream prices of ferrovanadium 50%min would stay at this price level in the coming week.
With a consumption capacity of 400tpy, they comsumed 360t in 2019. They expect to consume 20t in March, down by 10t from February, holding 10t of stocks now.
www.asianmetal.com
