Chinese Ferrovanadium Import Prices Drop
BEIJING (Asian Metal) 13 Dec 19 – Currently, mainstream import prices for Chinese ferrovanadium 50%min stand at RMB95,000-97,000/t (USD27.0-27.6/kg V) CIF China, down by RMB2,000/t (USD0.6/kg V) from last week. As the demand in China keeps soft and prices of international market edge down, insiders believe that import prices of Chinese ferrovanadium would stay weak in the coming week.
A trader in Northeast China claimed that the current price for import ferrovanadium 50%min stands at RMB97,000/t (USD27.6/kg V) CIF China and can buy at RMB96,000/t (USD27.3/kg V) now, down by RMB1,000/t (USD0.3/kg V) from last week. “I heard prices in Europen market stay at USD23.0/kg V in Rotterdam at the moment but we won’t consider as there would be a 35 days transportation. We only buy in spot market for immediate shipment,” said the source. Their last deal was made early last week, when they bought 20t at RMB97,000/t (USD27.6/kg V). Considering the supply situation keeps loose, he believes that prices of import ferrovanadium would stay weak in the coming week.
With a regular trading volume of 30tpm, they sold 300t in 2018 and have sold 260t so far this year. They expect to sell 20t in December, down by 10t from November, holding 25t of stocks now, up by 15t from last month.
A trader in North China noted the current price for import ferrovanadium 50%min he received stands at RMB96,000/t (USD27.3/kg V) CIF China, down by RMB2,000/t (USD0.6/kg V) from last week. “We just bought 20t at RMB92,000/t (USD026.1/kg V) CIF China this wednesday. As the content of Si, P, S elements keeps higher than normal, the supplier offered a big discount,” said the source. As prices of international vanadium market keep dropping, he believes that prices of import ferrovanadium 50%min would drop to RMB95,000/t (USD27.0/kg V) in the coming week.
With a regular trading volume of 40tpm, they sold 400t in 2018 and have sold 380t so far this year. They expect to sell 30t in December, down by 10t from November, holding 30t of stocks now, up by 20t from last month.
www.asianmetal.com
