Chinese Ferrovanadium Inquiries Increase
BEIJING (Asian Metal) 14 May 20 – At present, mainstream prices of Chinese ferrovanadium 50%min stand at RMB101,000-103,000/t (USD28.5-29.0/kg V) delivered D/A 180 days, unchanged from this Tuesday. Most suppliers refuse to sell at a low price level due to their high cost of raw materials. Insiders believe that mainstream prices of ferrovanadium would stay firm in the coming week.
A trader in North China notes the current price for ferrovanadium 50%min he received stand at RMB102,000/t (USD28.8/kg V), up by RMB2,000/t (USD0.6/kg V) from last week. “Our regular suppliers in Liaoning all quote at RMB102,000/t (USD28.8/kg V) now, up by RMB2,000/t (USD0.6/kg V) from last week and they refuse to accept any orders below this price level,” said the source. Prices of raw material vanadium pentoxide flake 98%min he received stand at RMB94,500/t (USD6.2/lb V2O5) EXW D/P now, up by RMB500/t (USD0.03/lb V2O5) from last week. Their last deal was made one week ago, when they sold 30t of ferrovanadium 50%min to one of their steel mill clients at RMB102,000/t (USD28.8/kg V) delivered D/A 180 days. He believes that prices of ferrovanadium 50%min would stay in a stalemate in the coming week.
With a regular trading volume of 60tpm, they sold 40t in April and expect 60t in May. They would purchase according to orders, holding no stocks in hand now.
A trader in South China quotes their ferrovanadium 50%min at RMB102,000/t (USD28.8/kg) delivered D/P and could accept RMB101,500/t (USD28.6/kg V) for firm bids more than 10t, up by RMB1,500/t (USD0.4/kg V) from one week ago. “To be frank, it’s hard to close deals at RMB102,000/t (USD28.8/kg V) at the moment, though inquiries keep active,” said the source. He received an inquiry for 20t this Tuesday but the buyer only wanted to buy at no more than 101,000/t (USD28.5/kg V). As the quantity is considerable, they accept this order at last. Considering prices of raw materials could hardly drop, he believes that mainstream prices of ferrovanadium 50%min would keep firm in the coming week.
With a regular trading volume of 50tpm, they expect to sell 50t in May, up by 20t from last month. They sold out all the stocks this week, down by 20t from last month.
www.asianmetal.com
