Chinese ferrovanadium market keeps quiet
Date: Jan 29, 2019
BEIJING (Asian Metal) 29 Jan 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min are RMB240,000-243,000/t (USD71.28-72.17/kg V) EXW D/A 180 days, up by RMB3,000/t (USD0.89/kg V) from last week. Rare deals did close as the Spring Festival is coming and more and more consumers left the market. Insiders believe prices of this material would be firm in the coming week.
A producer in South China quotes ferrovanadium 50%min at RMB245,000/t (USD72.76/kg V) at present, up by RMB5,000/t (USD1.48/kg V) from last week. “We are in no hurry to sell at the moment as the delivering and transportation have stopped. For firm bids, we can at most accept a counteroffer of RMB2,000/t (USD0.59/kg V) but would deliver it after the Spring Festival,” said the source. Their last deal was made early last week, when they sold 5t at RMB238,000/t (USD70.69/kg V). He believes the market would be quiet and prices would be steady in the coming two weeks.
