Chinese ferrovanadium prices drop
Date: Mar 15, 2019
BEIJING (Asian Metal) 15 Mar 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min are RMB232,000-235,000/t (USD69.12-70.02/kg V) EXW D/A 180 days, down by RMB23,000/t (USD6.85/kg V) from late last week. Consumers only make purchase according to urgent need and the demand keeps weak. Insiders believe prices of this material would drop further in the coming week.
A trader in Southwest China claimed that they receive the quotation for ferrovanadium 50%min from their suppliers maintain around at RMB235,000/t (USD70.02/kg V) at the moment, down by RMB25,000/t (USD7.45/kg V) from last week. “We sell to our clients at RMB240,000/t (USD71.51/kg V) for retail. We buy this material from Hubei and our profit is only RMB5,000/t (USD1.49/kg V) now,” said the source. He added, their clients only make purchase according to urgent need and it’s hard to close deal at the moment. Considering the demand keeps weak, he believes prices of this material would drop by RMB5,000/t (USD1.49/kg V) in the coming week.
