BEIJING (Asian Metal) 21 May 20 – Currently, 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, unchanged from last week. As prices of raw materials keep firm during the past week, few suppliers of ferrovanadium would like to drop their quotation to promote sales. Insiders believe that mainstream prices of ferrovanadium would stay firm in the coming week.
A producer in Northwest China quotes their ferrovanadium 50%min at RMB103,000/t (USD29/kg V) EXW D/P and could accept RMB102,000/t (USD28.7/kg V) for firm bids, unchanged from last week. “We mainly produce for our regular clients at the moment. As prices of raw material keeps firm during the past two weeks, we are in no hurry to sell ferrovanadium now,” a source from this company said. Their last deal was made this Monday, when they sold 10t to one of their regular clients at RMB101,500/t (USD28.6/kg V) EXW D/P, including RMB500/t (USD0.1/kg V) for freight. Considering prices of raw material stay firm during the past week, he believes that mainstream prices of ferrovanadium would keep steady in the coming week.
With an annual production capacity of 3,000t, they only produce according to orders at the moment. Due to lack of orders, they only produced about 40t in April and expect 50t in May, holding about 30t of stocks now, down by 20t from last month.
A producer in North China quotes their ferrovanadium 50%min at RMB102,000/t (USD28.7/kg V) EXW D/P and would not accept any discount for firm bids, unchanged from last week. “It’s hard for us to replenish stock of raw materials now, so we are in no hurry to sell our ferrovanadium,” said the source. They would not accept any orders below their bottom price now and only supply their regular clients. Though new inquiries are rare to see, he believes that mainstream prices of ferrovanadium 50%min would stay firm in the coming week due to the high cost of raw materials.
With an annual production capacity of 2,800t, they produced about 40t in Aril. They would build their regular stock this month and expect to produce 100t in May, holding no stocks now.
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