Chinese ferrovanadium prices under adjustment
Date: Jan 23, 2018
BEIJING (Asian Metal) 23 Jan 18 – Now Chinese steel mills make few purchases with quiet transactions in ferrovanadium market. Mainstream transaction prices for Chinese ferrovanadium 50%min stand at RMB185,000-188,000/t (USD57.81-58.75/kg V) EXW D/P now, unchanged from last week. As prices for raw material vanadium pentoxide stay at a high level, market participants predict that prices for Chinese ferrovanadium would move forward in stalemate in the coming week.
A producer in North China said, “Now purchasing prices for raw material vanadium pentoxide flake stabilize at RMB180,000/t (USD13.02/lb V) EXW D/P, which forms support for ferrovanadium prices. Despite few enquiries from consumers, the prices are unlikely to drop sharply, and it is expected that prices for Chinese ferrovanadium would be under adjustment with the range of RMB2,000/t (USD0.63/kg V) in the coming week.” Their current quotations for ferrovanadium 60%min stand at RMB188,000/t (USD58.75/kg V) EXW D/P and RMB190,000/t (USD59.38/kg V) EXW D/A 6 months. The company last sold 10t of ferrovanadium 50%min at RMB178,000/t (USD55.63/kg V) EXW D/P two weeks ago.
