BEIJING (Asian Metal) 24 May 23 – In view of the rising raw material prices and active inquires, Chinese ferrovanadium market mentality stayed positive during the past week. Currently, the mainstream prices of Chinese ferrovanadium 50%min stand at RMB118,000-120,000/t (USD33.6-34.1/kg V) Delivered D/A 180 days, up by RMB3,000/t (USD0.9/kg V) from late last week. Considering that most suppliers prefer to hold back from selling now, insiders believe that the mainstream prices of Chinese ferrovanadium 50%min would move up further in the coming week.
“Prices of vanadium pentoxide flake 98%min we inquired increased to the latest around RMB108,000/t (USD7.1/lb V2O5) EXW D/P, so we increased our ferrovanadium 50%min price accordingly to the latest RMB118,000/t (USD33.6/kg V) Delivered D/P and we refuse to accept any discount now,” said a trader in North China. They last sold 10t at RMB114,000/t (USD32.4/kg V) late last week. Considering that they could hardly replenish stock as few producers have goods to accept immediate shipment orders, they expect that the mainstream prices of Chinese ferrovanadium 50%min would stay above RMB120,000/t (USD34.1/kg V) in the coming week.
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