BEIJING (Asian Metal) 23 Sep 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min keep at RMB134,000-137,000/t (USD37.8-38.6/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.3/kg V) from last week. Most suppliers are facing high pressure to sell their products. Insiders believe prices of ferrovanadium would keep weak in the coming week.

A trader in South China quoted their ferrovanadium 50%min at RMB134,000/t (USD37.8/kg V) EXW D/P and can accept RMB133,000/t (USD37.5/kg V) for firm bids, down by RMB1,000/t (USD0.3/kg V) from last week. “We are in no hurry to build stock at the moment as the market trend keeps mixed at the moment. I believe the situation would be clear after the National Day,” said the source. Their last deal was made two weeks ago, when they sold 10t at RMB137,000/t (USD38.6/kg V).

With a regular trading volume of 50tpm, they sold 500t in 2018 and have sold 350t so far this year. They sold 40t in August and expect the same volume in September. They have no stock now, down by 30t from last month.

Another trader in South China noted the lowest quotation for ferrovanadium 50%min he received stands at RMB135,000/t (USD38.1/kg V) EXW D/A 180 days at the moment, down by RMB1,000/t (USD0.3/kg V) from last week. “The current price has no reference value as few buyers would like to make purchase before the National Day. I’m also waching the market now and plan to build stock after the holiday,” said the source. Their last deal was made in early September, when they sold 15t at RMB140,000/t (USD39.5/kg V). He believes prices of ferrovanadium would keep steady in the coming week.

With a regular trading volume of 60tpm, they sold 600t in 2018 and have sold 400t this year. They sold 50t in August and expect 40t in September, holding 15t of stocks now, unchanged from last month.

www.asianmetal.com