Chinese ferrovanadium prices drop
Date: Mar 20, 2019
BEIJING (Asian Metal) 20 Mar 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min are RMB220,000-223,000/t (USD65.53-66.42/kg V) EXW D/A 180 days, down by RMB12,000/t (USD3.57/kg V) from last week. As the demand keeps weak, producers have to drop their quotation to promote sales. Insiders believe prices of this material would keep dropping in the coming week.
A producer in Northeast China quotes ferrovanadium 50%min at RMB225,000/t (USD67.02/kg V) and can sell at RMB223,000/t (USD66.42/kg V) for firm bids, down by RMB12,000/t (USD3.57/kg V) from last week. The demand is too weak, which would weaken the market support for ferrovanadium,” said the source. Their last deal was made late last month, when they sold 30t at RMB255,000/t (USD75.96/kg V). He believes price of this material would drop to RMB215,000/t (USD64.04/kg V) in the coming week.
