Chinese ferrovanadium prices decrease
Date: Mar 29, 2019
BEIJING (Asian Metal) 29 Mar 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min are RMB210,000-213,000/t (USD62.4-63.3/kg V) EXW D/A 180 days, down by RMB10,000/t (USD3.0/kg V) from last week. As the demand keeps soft, producers have to drop their quotation to reduce stock. Insiders believe prices of this material would keep dropping in the coming week.
A producer in Northeast China quotes ferrovanadium 50%min at RMB215,000/t (USD63.9/kg V) EXW D/A 180 days and can sell at RMB213,000/t (USD63.3/kg V) for firm bids at the moment, down by RMB10,000/t (USD3.0/kg V) from last week. “Nearly no steel mills are making purchase at the moment. We can only sell to traders and orders are rare to see now,” said the source. Their last deal was made early last week, when they sold 5t at RMB223,000/t (USD66.3/kg V). He believes prices of this material would drop by RMB10,000/t (USD3.0/kg V) again in the coming week.
