Chinese ferrovanadium prices down rationally
Date: Nov 6, 2018
BEIJING (Asian Metal) 6 Nov 18 – Currently, mainstream prices for ferrovanadium 50%min stand at RMB505,000-508,000/t (USD145.82-146.69/kg V) Inc-VAT EXW D/A six months, down by RMB3,000/t (USD0.87/kg V) from last week. Few consumers made purchase due to the high prices. As it is very difficult to conclude deals at such high prices, some producers lowered prices actively to reduce stocks. Ferrovanadium prices are expected to move down rationally in the following week.
A producer in North China claimed they offer RMB500,000/t (USD144.38/kg V) Inc-VAT EXW D/P for ferrovanadium 50%min at present, down by RMB5,000/t (USD1.44/kg V) from last week. He said, “At present, it is difficult to conclude deals for ferrovanadium at high prices. We have stockpiled 50t of the material, which takes a lot of money. So in order to promote the purchase and sale, we have voluntarily reduced ferrovanadium prices to reduce the inventory.” The source revealed they have received an enquiry from a consumer who intended to purchase 20t at RMB490,000/t (USD141.49/kg V) Inc-VAT EXW D/P, but their lowest price is RMB495,000/t (USD142.94/kg V) Inc-VAT EXW D/P at present. So they are still negotiating with each other.
