Chinese ferrovanadium prices keeps rising
Date: Oct 9, 2018
BEIJING (Asian Metal) 9 Oct 18 – Mainstream transaction prices for Chinese ferrovanadium 50%min stand at RMB419,000-422,000/t (USD121.07-121.94/kg V) Inc-VAT EXW D/P now, up by RMB22,000/t (USD6.36/kg V) from those before the National Day. They are approaching the highest price of RMB440,000/t (USD127.14/kg V) emerged at the end of 2004. As ferrovanadium prices rose too fast, steel mills reduced their purchase volume or use ferroniobium to replace the material, but it has not affected the rapid rise of ferrovanadium prices. Some suppliers have raised their quotations to RMB460,000/t (USD132.92/kg V) directly. Prices for Chinese ferrovanadium are expected to rise rapidly in the coming week.
A producer in North China said that they offer RMB450,000/t (USD130.03/kg V) for ferrovanadium 50%min at present, but have concluded no deals at the price so far. He said, ＂The increasing price of vanadium iron is completely caused by the shortage of raw material vanadium pentoxide, which will not change in a short time. So I think the ferrovanadium prices would be over RMB500,000/t (USD144.48/kg V) in the coming week.＂The source revealed that they last sold 5t of ferrovanadium 50%min at RMB420,000 (USD121,36/kg V) to a regular customer in late September.
