Chinese ferrovanadium price rises rapidly
Date: Sep 21, 2018
BEIJING (Asian Metal) 21 Sep 18 – Currently, prices for Chinese ferrovanadium 50%min are over RMB350,000/t (USD102.10/kg V), and the mainstream prices stand at RMB350,000-353,000/t (USD102.10-102.98/kg V) Inc-VAT EXW D/P, up by RMB45,000/t (USD13.13/kg V) from last week. Ferrovanadium producers had difficulty in purchasing the raw material vanadium pentoxide due to the tight supply, which led to the increase of ferrovanadium prices. Consumers were active in purchasing, and some producers have offered no lower than RMB370,000/t (USD107.94/kg V) and started to negotiate the prices with customers. Prices for Chinese ferrovanadium are expected to rise sharply in the following week.
A producer in North China said that they offer RMB370,000/t (USD107.94/kg V) for ferrovanadium 50%min at present, up by RMB50,000/t (USD14.59/kg V) from last week. The company adjusted the price twice in one day, offering RMB350,000 (USD102,10/kg V) in the morning while raising by RMB20,000/t (USD5.83/kg V) in the afternoon. She said, “We have used up our raw material and cannot get it in the market due to the tight supply. We produce ferrovanadium with the existing stocks of the raw material, and have to suspend the production as soon as they were used up. Therefore, we are in no hurry to accept orders unless we are very satisfied with the terms of payment.” The source revealed that they last sold 10t of ferrovanadium 50%min at RMB350,000 (USD102,10/kg V) EXW D/P this Thursday. She predicted that Chinese ferrovanadium 50%min prices would be over RMB400,000/t (USD116.69/kg V) in the coming week.
