Chinese Ferrovanadium Market Keeps Quiet
EIJING (Asian Metal) 4 Dec 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB101,000-104,000/t (USD28.6-29.2/kg V) EXW D/A 180 days, unchanged from this Monday. Consumers only make purchase according to urgent need and the market keeps quiet. Insiders believe prices of ferrovanadium would stay weak in the coming week.
A trader in North China quotes their ferrovanadium 50%min at RMB103,000/t (USD29.2/kg V) EXW D/P and can accept RMB102,000/t (USD28.9/kg V) for firm bids, unchanged from this Monday. “I received an inquiry for 5t this Tuesday but the buyer only wanted to buy at no more than RMB100,000/t (USD28.4/kg V). Even though they are our regular client, we would not accept this order,” said the source. He added, “Our last deal was made two weeks ago, when we bought 30t at RMB102,000/t (USD28.9/kg V) Delivered D/P. We would rather keep the stock and wait prices increasing in the future.” As inquiries are rare to see at the moment, he believes prices of ferrovanadium would stay weak in the coming week.
With a regular trading volume of 30tpm, they sold 300t in 2018 and have sold 280t so far this year. They expect to sell 30t in December, unchanged from November, holding 30t of stocks now, up by 15t from last week.
Another trader in North China quotes their bottom price for ferrovanadium 50% at RMB102,000/t (USD28.9/kg V) EXW D/A 180 days and RMB100,000/t (USD28.4/kg V) EXW D/P, unchanged from this Monday. “Inquiries are hard to see at the moment. Our major clients used to buy 50tpm but now noly 30tpm,” said the source. Their last deal was made late last week, when they sold 10t at RMB102,000/t (USD28.9/kg V) Delivered D/A 180 days. He believes prices of ferrovanadium would keep steady in the coming week.
With a regular trading volume of 50tpm, they sold 550t in 2018 and have sold 480t so far this year. They expect to sell 30t in December, down by 10t from November, holding 30t of stocks now, unchanged from last month.
www.asianmetal.com
