Chinese Ferrovanadium Prices Drop
Date: Apr 02, 2019
BEIJING (Asian Metal) 2 Apr 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min are RMB202,000-205,000/t (USD60.2-61.1/kg V) EXW D/A 180 days, down by RMB8,000/t (USD2.4/kg V) from last week. Considering the demand keeps weak, suppliers have to drop their quotation to promote sales. Insiders believe prices of this material would keep dropping in the coming week.
A producer in South China offers ferrovanadium 50%min at RMB205,000/t (USD61.1/kg V) EXW D/A 180 days and can sell at RMB204,000/t (USD60.8/kg V) for firm bids at the moment, down by RMB10,000/t (USD3.0/kg V) from last week. “I heard Kungang’s bidding price for vanadium nitride has dropped to RMB260,000/t (USD50.3/kg V), which is lower than market prices for nearly RMB40,000/t (USD7.7/kg V). I believe prices of ferrovanadium would also keep dropping in the coming week,” said the source. Their last deal was made early last week, when they sold 5t at RMB214,000/t (USD63.8/kg V).
