Chinese ferrovanadium prices increase
Date: Jan 15, 2019
BEIJING (Asian Metal) 15 Jan 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min are RMB225,000-228,000/t (USD66.57-67.46/kg V) EXW D/A 180 days, up by RMB8,000/t (USD2.37/kg V) from early last week. Considering most steel mills will build raw material inventory in January, insiders believe prices would increase slightly in the coming week.
A producer in Northeast China quotes ferrovanadium 50%min at RMB230,000/t (USD68.05/kg V) at present, up by RMB10,000/t (USD2.96/kg V) from last week. “Most steel mills would build stock before Spring Festival. However, most ferrovanadium producers have reduced production for the falling prices. As the pent-up demand begin to unleash, the supply is a little tight. I believe that’s the main reason why prices of this material are increasing,” said the source. He added, they can at most accept a counteroffer of RMB2,000/t (USD0.59/kg V) for firm bids at the moment. Their last deal was made early last week, when they sold 5t at RMB220,000/t (USD65.09/kg V). He believes prices of this material would increase to around RMB240,000/t (USD71.01/kg V) in the coming week.
