Chinese Ferrovanadium Market Keeps Quiet

BEIJING (Asian Metal) 14 Jan 20 – Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB98,000-101,000/t (USD28.4-29.3/kg V) EXW D/A 180 days, the same as last week. Most consumers have finished their purchase plan before the Spring Festival and the market keeps quiet. Insiders believe that prices of ferrovanadium would stay steady in the coming week.

A trader in South China claimed the current price for ferrovanadium 50%min he received stands at RMB97,000/t (USD28.1/kg V) EXW D/P, the same as last week. “The physical distribution would stop from this week and our major steel mill clients have finished their purchase for the coming two months. Prices won’t change too much in the coming week,” said the source. Their last deal was made early last week, when they sold 20t at RMB98,500/t (USD28.6/kg V) Delivered D/A 180 days.

With a regular trading volume of 50tpm, they sold 600t in 2018 and 550t in 2019. They sold 40t in last December and expect 30t in January, holding 10t of stocks now, down by 20t from last month.

A trader in North China noted prices for ferrovanadium 50%min he received keeps at RMB101,000/t (USD29.3/kg V) EXW D/A 180 days and can buy at RMB100,000/t (USD29.0/kg V) for firm bids, unchanged from last week. “We mainly supply small casting enterprises and the volume of signal orders keep at around 500kg to 1t. Our last deal was made late last week, when wen sold 1t at RMB99,000/t (USD28.7/kg V) EXW D/P,” said the source. He added, “We won’t replenish stocks before the Spring Festival as inquiries from our end consumer clients are rare to see at the moment.” He believes that prices of ferrovanadium would stay quiet in the coming week.

With a regular trading volume of 30tpm, they sold 350t in 2019, the same as 2018. They expect to sell 20t in January, down by 10t from last December. They have 15t of stocks now, unchanged from last month.