BEIJING (Asian Metal) 13 May 20 – Currently, mainstream prices of Chinese ferrovanadium 50%min stand at RMB101,000-103,000/t (USD28.5-29.0/kg V) delivered D/A 180 days, up by RMB2,000/t (USD0.6/kg V) from last week. Inquiries keep active and most suppliers are optimistic for the market price tendency. Insiders believe that mainstream prices of ferrovanadium would edge up in the coming week.
A trader in North China quotes their ferrovanadium 50%min at RMB103,000/t (USD29.0/kg V) EXW D/P and could accept RMB101,500/t (USD28.6/kg V) for firm bids, up by RMB1,500/t (USD0.4/kg V) from last week. “Inquiries increased significantly during the past week and we sold 10t to one of our regular steel mill clients at RMB101,500/t (USD28.6/kg V) this Monday,” said the source. As their producers kept increasing prices slightly during the past week, they have to increase their bottom price accordingly. They would not accept any orders below RMB101,500/t (USD28.6/kg V) at the moment. He believes that mainstream prices of ferrovanadium 50%min would edge up in the coming week.
With a regular trading volume of 30tpm, they sold 30t in April and expect the same volume in May, holding about 15t of stocks at the moment, down by 15t from last month.
Another trader in North China quotes their ferrovanadium 50%min at RMB102,000/t (USD28.7/kg V) EXW D/P and would not accept any orders below this price level, up by RMB2,000/t (USD0.6/kg V) from last week. “I received three inquiries during the past week. However, I didn’t receive any inquiries for several weeks before that,” said the source. This Tuesday, one of their regular clients sent inquiry to him for 5t and wanted to buy at no more than RMB101,000/t (USD28.5/kg V), he refused this order directly. He believes that prices of ferrovanadium 50%min would keep increasing in the coming week.
With a regular trading volume of 20t, they expect to sell 20t in May, the same as April, holding about 20t in hands now, unchanged from last month.
www.asianmetal.com
