Chinese Ferrovanadium Prices Keep Steady
BEIJING (Asian Metal) 6 Jan 20 – Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB98,000-101,000/t (USD28.1-29.0/kg V) EXW D/A 180 days, unchanged from last week. As the cost keeps high, few producers would like to drop their quotation though the demand keeps soft. Insiders believe that prices of ferrovanadium would be steady in the coming week.
A producer in South China quotes their ferrovanadium 50%min at RMB101,000/t (USD29.0/kg V) EXW D/P and can accept RMB101,000/t (USD29.0/kg V) EXW D/A 180 days for firm bids, unchanged from last week. “Our regular clients only make purchase according to urgent need and few of them would like to build stocks now. It’s hard to close deal at higher price level at the moment,” said the source. He added, “We buy raw material vanadium pentoxide flake 98%min at RMB94,500/t (USD6.3/lb V2O5) EXW D/A 180 days and the current quotation for ferrovanadium 50%min almost equals to our cost.” Their last deal was made early last week, when they sold 10t at RMB101,000/t (USD29.0/kg V) EXW D/A 180 days. Considering the cost keeps high, he believes that prices of ferrovanadium woul stay firm in the coming week.
With an annual production capacity of 2,400t, they produced 120t in December and expect 90t in January, holding 25t of stocks now.
Another producer in South China quotes their ferrovanadium 50%min at RMB100,000/t (USD28.7/kg V) EXW D/A 180 days and can accept RMB985,00/t (USD28.3/kg V) for firm bids more than 30t, unchanged from last week. “We just sold 30t at RMB98,500/t (USD28.3/kg V) Delivered D/P last Thursday to one of our regular steel mill clients,” said the source. He added, “The current price for raw material vanadium pentoxide flake 98%min I received stands at RMB96,000/t (USD6.4/lb V2O5) EXW D/A 180 days and can buy at RMB94,000/t (USD6.2/lb V2O5) for firm bids, unchanged from last week.” Considering the cost keeps high, he believes that prices of ferrovanadium would stay steady in the coming week.
With a production capacity of 3,000tpy, they produced 220t in December and expect 200t in January, holding 60t of stocks now.
www.asianmetal.com
