Chinese ferrovanadium prices keep dropping
Date: Nov 21, 2018
BEIJING (Asian Metal) 21 Nov 18 – Currently, mainstream prices of Chinese ferrovanadium 50%min drop to RMB470,000-473,000/t (USD144.82-145.74/kg V) Inc-VAT EXW D/P, down by RMB17,000/t (USD5.24/kg V) from late last week. Few steel mills are bidding at the moment, and most ferrovanadium suppliers face huge selling pressure. However, considering prices of the raw material vanadium pentoxide flake keep high, insiders believe prices of Chinese ferrovanadium would be firm in the coming week.
A trader in South China quotes ferrovanadium 50%min at RMB480,000/t (USD147.90/kg V) at present, down by RMB15,000/t (USD4.62/kg V) from last week. “Our last deal was made at the end of October, when we sold 30t ferrovanadium 50%min at RMB500,000/t (USD154.06/kg V). It was easy to do trading business at that time, because many steel mills were bidding and prices were increasing. However, everything has changed now,” said the source. He added, one client would bid at the end of November, and the client told him the target price is RMB470,000/t (USD144.82/kg V). He would like to accept the price then. He learned prices of the raw material vanadium pentoxide flake 98%min still keep high at RMB480,000/t (USD147.90/lb V) Inc-VAT EXW D/P. He believes prices of Chinese ferrovanadium 50%min would be firm in the coming week.
