Chinese Ferrovanadium Prices Increase
BEIJING (Asian Metal) 19 Nov 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB105,000-108,000/t (USD29.9-30.8/kg V) EXW D/A 180 days, up by RMB4,000/t (USD1.1/kg V) from last week. Traders are active in building stocks and inquiries increased significantly. Considering the cost keeps high, insiders believe prices of ferrovanadium would edge up in the coming week.
A trader in South China claimed the current quotation for ferrovanadium 50%min he received stands at RMB107,000/t (USD30.5/kg V) EXW D/A 180 days and can buy at RMB105,000/t (USD29.9/kg V) for firm bids, up by RMB3,000/t (USD0.9/kg V) from last week. “Our last deal was made two weeks ago, when we sold out all the 15t of ferrovanadium 50%min stocks at RMB98,000/t (USD27.9/kg V) EXW D/P. As prices keep increasing now, we prepare to buy 10t again in the coming day,” said the source. He added, “The current price for vanadium pentoxide flake 98%min keep firm at RMB100,000/t (USD6.6/lb V2O5) EXW D/A 180 days and no suppliers would drop their quotation to close deal.” Considering the cost keeps high, he believes prices of ferrovanadium 50%min would increase to RMB108,000/t (USD30.8/kg V) EXW D/A 180 days in the coming week.
With a regular trading volume of 40tpm, they sold 450t in 2018 but just sold 200t so far this year. They expect to sell 40t in November, up by 20t from October, holding no stocks now, down by 15t from last month.
A trader in North China noted the current price for ferrovanadium 50%min he received stands at RMB108,000/t (USD30.8/kg V) EXW D/A 180 days and can buy at RMB105,000/t (USD29.9/kg V) for firm bids, up by RMB4,000/t (USD1.1/kg V) from last week. “We prepare to buy 20t to build the inventory as prices increase quickly. To be frank, we have bought 10t already early last week at RMB101,000/t (USD28.8/kg V),” said the source. As most steel mills would make purchase at the end of this month, he believes prices of ferrovanadium 50%min would increase to RMB110,000/t (USD31.4/kg V) in the coming week.
With a regular trading volume of 50tpm, they sold 550t in 2018 but only sold 300t this year. They sold 20t in October and expect to sell 50t in November, holding 10t of stocks now, up by 10t from last month.
www.asianmetal.com
