Chinese Ferrovanadium Market Keeps Quiet
BEIJING (Asian Metal) 27 Aug 19 – Currently, consumers only make purchase according to urgent need, the market of ferrovanadium keeps quiet. Mainstream prices for Chinese ferrovanadium 50%min stand at RMB135,000-138,000/t (USD37.8-38.6/kg V) EXW D/A 180 days, unchanged from last week. Consideing the cost keeps high, insiders believe prices of ferrovanadium would stay steady in the coming week.
A producer in Liaoning claimed their quotation for ferrovanadium 50%min keeps at RMB136,000/t (USD38.1/kg V) EXW D/A 180 days and can accept RMB135,000/t (USD37.8/kg V) for firm bids now, unchanged from last week. “Our last deal was made last Wednesday, when we sold 32t at RMB135,000/t (USD37.8/kg V). We still insist on this price level this week and if prices are lower than our bottom, we would not accept any new orders,” said the source. He heard current prices for raw material vanadium pentoxide flake 98%min stand around at RMB130,000/t (USD8.4/lb V), unchanged from last week. As the cost keeps high, he believes prices of ferrovanadium would stay firm in the coming week.
With an annual production capacity of 2,400t for ferrovanadium, they produced 120t in July and expect to produce the same volume in August, holding 20t of stocks now.
Another producer in Liaoning noted the lowest price they can accept stand at RMB135,000/t (USD37.8/kg V) EXW D/A 180 days and RMB132,000/t (USD37.0/kg V) EXW D/P, unchanged from last week. “Our last deal was made last Friday, when we sold 20t at RMB132,000/t (USD37.0/kg V) EXW D/P. We have no inventory pressure now and at the same time, prices of vanadium pentoxide flake 98%min keep firm at RMB130,000/t (USD8.4/lb V), so we won’t drop prices to absorb new orders,” said the source. He believes prices of ferrovanadium would keep steady at the current level in the coming week.
With production capacity of 3,600tpy for ferrovanadium, they expect to produce 200t ferrovanadium in August, down by 40t from July for lack of orders. They only produce according to orders, no stock now.
www.asianmetal.com
