Chinese ferrovanadium price under downward pressure
Date: Feb 7, 2018
BEIJING (Asian Metal) 7 Feb 18 – The Chinese ferrovanadium market is sluggish currently as consumers only make hand-to-mouth purchases. With the Spring Festival approaching, small ferrovanadium producers show strong willingness to seal deals. As a result, transactions of ferrovanadium 50%min in some regions have been concluded at RMB180,000/t (USD57.39/kg V) EXW D/P, causing ferrovanadium prices to drop under pressure. At present, mainstream prices for Chinese ferrovanadium 50%min stay at RMB183,000-186,000/t (USD58.34-59.30/kg V) EXW D/P, down by RMB1,000/t (USD0.32/kg V) from last week. It is predicted that prices for Chinese ferrovanadium would keep weakly stable in the coming week.
A producer from North China noted, “Prices for raw material vanadium pentoxide currently keep stable, providing support for ferrovanadium prices. Therefore, ferrovanadium prices don’t decrease sharply, but are hard to rise due to little downstream demand. In order to secure orders, we have offered customers the largest discount we could afford.” The company currently quotes RMB186,000/t (USD59.30/kg V) EXW D/P for ferrovanadium 50%min and last sold 10t of the material early this week at RMB182,000/t (USD58.02/kg V) EXW D/P, The producer added that this was the first time that they had offered such a large discount to seal the deal of 10t. The source anticipates that Chinese ferrovanadium prices would hold stable in the coming week.
