Chinese ferrovanadium prices decrease
Date: Nov 15, 2018
BEIJING (Asian Metal) 15 Nov 18 – Currently, mainstream prices of Chinese ferrovanadium 50%min decrease to RMB487,000-490,000/t (USD140.11-140.97/kg V) Inc-VAT EXW D/P, down by RMB18,000/t (USD5.18/kg V) from last Tuesday. Most suppliers drop prices to reduce stocks. However, most suppliers just purchase according to urgent need. Insiders believe prices would continue decreasing in the coming week.
A producer in North China quotes ferrovanadium 50%min at RMB490,000/t (USD140.97/kg V) at present, down by RMB20,000/t (USD5.75/kg V) from last week. “One of our regular clients sent an inruiry to me this Tuesday, and he wanted to buy 10t at RMB480,000/t (USD138.09/kg V), but I refused ,” said the source. The last deal of this company was made early last week, when they sold 5t at RMB505,000/t (USD145.28/kg V) to a regular client. They haven’t closed any deals since then, and they are facing huge selling pressure now. In order to reduce stock, they would like to accept a counteroffer of RMB3,000/t (USD0.86/kg V) if someone wants to buy more than 10t. He believes prices would edge down in the coming week.
