Chinese ferrovanadium prices are touching the bottom
Date: Jan 3, 2019
BEIJING (Asian Metal) 3 Jan 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min drop to RMB217,000-220,000/t (USD63.34-64.22/kg V) Inc-VAT EXW D/A 180 days, down by RMB13,000/t (USD3.79/kg V) from last week. Considering mainstream steel mills would invite bids before Spring Festival, most insiders are optimistic for the coming week.
A producer in South China quotes ferrovanadium 50%min at RMB220,000/t (USD64.22/kg V) Inc-VAT EXW D/A 180 days, down by RMB10,000/t (USD2.92/kg V) from last week. “As steel mills will invite bids before Spring Festival, we tried to increase our quote for ferrovanadium but failed to close the deal at the moment. I believe mainstream prices have touched the bottom and would be firm in the coming week,” said the source. Their last deal was made two weeks ago, when they sold 10t at RMB227,000/t (USD66.26/kg V).
