Chinese ferrovanadium prices begin holding at high level
Date: Jan 16, 2018
BEIJING (Asian Metal) 9 Jan 18 – Mainstream transaction prices for Chinese ferrovanadium 50%min stand at RMB185,000-188,000/t (USD57.53-58.47/lb V) EXW D/P now, up sharply by RMB20,000/t (USD6.22/lb V) from last week. With quite rapid uptrend, consumers held low intentions to follow up, so market transactions began running slowly. Market participants believe that the inflection point of vanadium market has appeared and predict that prices for Chinese ferrovanadium would begin holding at a high level in the coming week.
A producer in South China said, “Prices for ferrovanadium rose too fast in the previous period, while consumers did not follow up, but due to tight supply of raw material vanadium pentoxide and remaining high prices for the material, it is expected that supported by costs, the uptrend of prices for Chinese ferrovanadium would slow down but never drop sharply.” Their current quotation for ferrovanadium 50%min stands at RMB190,000/t (USD59.09/lb V) EXW D/P and the company plans to sell 30t of ferrovanadium 50%min at RMB185,000/t (USD57.53/lb V) EXW D/P which is in negotiation with buyers now.
