www.ferroalloynet.com: According to the market report, the price of ferrovanadium in the European market slightly fell to 22.4-24.0 USD/KgV, convert into 50# ferrovanadium RMB price was 79,600-85,300 Yuan/ton. The price of European V2O5 was 5.0-6.0 USD/LB V2O5, convert into V2O5 98% RMB price was 76,800-92,200 Yuan/ton; the price of ferrovanadium in United States was 11.35-12.0 USD/LB V, convert into 50# ferrovanadium RMB price was 89,000-94,000 Yuan/ton. Today’s exchange rate is USD: RMB = 7.1121:1.
Looking back at the price of ferrovanadium in the European market since February, it shows a trend of continuous decline. The market price of V2O5 fluctuated, while ferrovanadium also declines due to the scattered supply and reduced demand. With the spread of the novel coronavirus epidemic in Europe, the demand in the downstream market in Europe will continue to be weak. It is expected that the current price of ferrovanadium in Europe has not reached the bottom, and at the same time, it is still difficult for domestic ferrovanadium prices to rebound in the short term.
www.ferroalloynet.com
