Chinese Ferrovanadium Prices Market Keeps Quiet
BEIJING (Asian Metal) 26 Sep 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB134,000-137,000/t (USD37.6-38.4/kg V) EXW D/A 180 days, unchanged from early this week. Consumers only make purchase according to urgent and the market keeps quiet now. Considering prices of raw material vanadium pentoxide flake increase slighty, insiders believe prices of ferrovanadium would increase accordingly in the coming week.
A trader in South China noted the lowest quotation for ferrovanadium 50%min he received stands at RMB135,000/t (USD37.9/kg V) EXW D/A 180 days, unchanged from early this week. “We need to buy 5t for urgent need in the coming day, which should deliver to us within 3 days and our target price stands at no more than RMB133,000/t (USD37.3/kg V) delivered D/P,” said the source. Their last deal was made early last week, when they bought 20t at RMB136,000/t (USD38.2/kg V) delivered D/P. He received the current price for vanadium pentoxide flake 98%min increased by RMB1,000/t (USD0.1/lb V2O5) from last week to RMB131,000/t (USD8.6/lb V2O5) now. He believes prices of ferrovanadium 50%min would increase by RMB1,000/t (USD0.3/kg V) in the coming week.
With a regular trading volume of 40tpm, they sold 400t in 2018 and have sold 300t so far this year. They sold 35t in August and expect the same volume in September, holding no stock now, unchanged from last month.
A producer in South China quoted their quotation for ferrovanadium 50%min at RMB138,000/t (USD38.7/kg V) EXW D/A 180 days and can accept RMB137,000/t (USD38.4/kg V) for firm bids, unchanged from early this week. “We produce by electric furnace and the quality of our product is better than normal off-furnace process. That’s why we sell at higher prices now,” said the source. He added, “I received an inquiry early this week for 20t at RMB135,000/t (USD37.9/kg V) and I refused the buyer directly.” Their last deal was made late last week, when they sold 10t at RMB137,000/t (USD38.4/kg V). He believes dealing price of ferrovanadium 50%min would increase to RMB138,000/t (USD38.7/kg V) in the coming week.
With an annual production capacity of 1,000/t, they produced 70t in August and expect the same volume in September, holding 20t of stocks now.
www.asianmetal.com
