BEIJING (Asian Metal) 19 May 20 – At present, mainstream prices of Chinese ferrovanadium 50%min stand at RMB101,000-103,000/t (USD28.4-29.0/kg V) delivered D/A 180 days, the same as last week. Few suppliers would like to drop their quotation to promote sales due to the high cost of raw materials. However, considers international market prices keep dropping, insiders believe that mainstream prices of Chinese ferrovanadium would keep weak in the coming week.
“We bought 20t of ferrovanadium 50%min at RMB100,000/t (USD28.1/kg V) delivered D/P late last week,” a trader from North China said. They would like to add RMB1,000/t (USD0.3/kg V) to sell out all if anyone who wants to buy for immediate shipment. The current market price of import ferrovanadium 50%min produced in Ukraine he received stand at USD19.8/kg V CIF China and prices of ferrovanadium 80%min in Rotterdam he received stands at USD25/kg V. Considering international prices are much lower than China, he believes that mainstream prices of Chinese ferrovanadium 50%min would keep weak in the coming week.
With a regular trading volume of 40tpm, they sold about 480t in 2019 and 200t so far this year. They expect to sell 40t in May, unchanged from April, holding about 20t of stocks now, the same as last month.
“We plan to purchase 40t of ferrovanadium within this week and our regular supplier would like to sell at RMB102,000/t (USD28.7/kg V) delivered D/A 180 days, unchanged from last week,” another consumer in North China said. They decide to buy 40t at first. However, as prices of ferrovanadium could hardly keep rebounding, they changed their minds and only purchase according to urgent need. They closed the deal at RMB101,000/t (USD28.4/kg V) for 20t this Monday. Considering prices of raw materials vanadium pentoxide flake stay firm, he believes that mainstream prices of ferrovanadium 50%min would stay in a stalemate in the coming week.
With an annual consumption capacity of 360t, they consumed about 300t in 2019 and about 100t so far this year. They expect to consume 20t in May, unchanged from April, holding about 20t of stocks now, unchanged from last month.
www.asianmetal.com
