Chinese Ferrovanadium Prices Move Down
BEIJING (Asian Metal) 10 Oct 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min keep at RMB133,000-136,000/t (USD37.3-38.1/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.3/kg V) from two weeks ago. Though prices of raw material stand at high level, due to the impact of dropping overseas ferrovanadium prices, insiders believe prices of Chinese ferrovanadium would drop slightly in the coming week.
A producer in Liaoning noted the current quotation for their ferrovanadium 50%min stands at RMB135,000/t (USD37.8/kg V) EXW D/A 180 days and can accept RMB134,000/t (USD37.6/kg V) for firm bids, down by RMB1,000/t (USD0.3/kg V) from two weeks ago. “I received an inquiry for 20t of ferrovanadium 50%min this Tuesday but the buyer only wants to buy at no more than RMB132,000/t (USD37.0/kg V),” said the source. He added, “I heard the price of ferrovanadium 50%min in European market has dropped to RMB100,000/t (USD28.0/kg V). Even with the import duty and VAT, it’s still much lower than domestic market.” Their last deal was made late September, when they sold 20t at RMB135,000/t (USD37.8/kg V). He believes prices of Chinese ferrovanadium 50%min would drop by RMB1,000/t (USD0.3/kg V) in the coming week.
With an annual production capacity of 2,400t, they produced 80t in September and expect the same volume this month, holding 40t of stocks now.
Another producer in Liaoning quoted their ferrovanadium 50%min at RMB136,000/t (USD38.1/kg V) EXW D/A 180 days and can accept RMB135,000/t (USD37.8/kg V) for firm bids, down by RMB1,000/t (USD0.3/kg V) from two weeks ago. “We bought 30t of raw material vanadium pentoxide flake 98%min at RMB128,000/t (USD8.3/lb V2O5) EXW D/P at the end of September. According to the cost, we can earn about RMB2,000/t (USD0.6/kg V) for ferrovanadium now,” said the source. Their last deal was made two weeks ago, when they sold 30t at RMB136,000/t (USD38.1/kg V). Supported by high price level of raw material, he believes prices of ferrovanadium can at most drop by RMB2,000/t (USD0.6/kg V) in the coming week.
With an annual production capacity of 3,600/t, they produced 100t in September and expect the same volume in October, holding 50t of stocks now.
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www.asianmetal.com
