Chinese Ferrovanadium Prices Edge Down
BEIJING (Asian Metal) 26 Jun 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min are RMB132,000-135,000/t (USD38.2-39.1/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.3/kg V) from last week. Due to soft downstream demand, limited transactions were concluded at high prices. Market participants predicted that prices for Chinese ferrovanadium would remain weakly stable in the coming week.
A Hubei-based producer quotes RMB133,000/t (USD38.5/kg V) EXW D/P as the lowest price for ferrovanadium 50%min now, down by RMB2,000/t (USD0.6/kg V) from last week. “Few end users have intention of purchasing ferrovanadium at present and traders wait on the sidelines. In order to promote sales, we lower the lowest price. Even so, we just sign scarce orders. It’s predicted that our output in June would drop by 50%,” the source said, adding that he last sold 20t of the material at RMB128,000/t (USD37.0/kg V) two weeks ago. He predicted that prices for Chinese ferrovanadium would be weakly stable in the forthcoming week.
With an annual production capacity of 1,000t of ferrovanadium, the producer expects to produce 30t in June, down by 30t from May, and holds 10t of stocks at the moment.
Another Hubei-based producer quotes RMB135,000/t (USD39.1/kg V) EXW D/A 180 days for ferrovanadium 50%min now and can accept RMB134,000/t (USD38.8/kg V) as the lowest price for firm bids, down by RMB1,000/t (USD0.3/kg V) from last week. “Only a few long-term regular customers make purchases from hand to mouth at present and the demand is extremely weak. We shut down the production line in early June and mainly sell stocks for the time being,” the source said, adding that he last sold 10t of the material at RMB135,000/t (USD39.1/kg V) in late last week. As production cost stands stable at a high level, he predicted that prices for Chinese ferrovanadium would stay steady in the following week.
With an annual production capacity of 3,000t of ferrovanadium, the producer produced 50t in May and records no output in June, holding 50t of stocks now.
www.asianmetal.com
