Chinese Ferrovanadium Prices Move Up at a Notable Smaller Speed
BEIJING (Asian Metal) 20 Jun 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min hold at RMB133,000-136,000/t (USD38.6-39.5/kg V) EXW D/A 180 days, up by RMB1,000/t (USD0.3/kg V) from last week. Suppliers are eager to raise their prices but downstream purchases have not grown notably, so the optimistic sentiment among market players is fading into a wait-and-see attitude. Insiders believe that Chinese ferrovanadium prices would be stable in the coming week.
A consumer in Northwest China purchased 30t of ferrovanadium 50%min at RMB135,000/t (USD39.2/kg V) delivered D/A 180 days early this week. “This week, ferrovanadium prices are moving up at a notably smaller speed. The quotation we receive this week from our supplier moves up just by RMB1,000/t (USD0.3/kg V), while last week they rose by over RMB5,000/t (USD1.5/kg V),” the source said. “I believe that Chinese ferrovanadium prices would be stable in the coming week,” the source added.
With an annual consumption capacity of 360t of ferrovanadium, the source expects to consume 20t in June, unchanged from May, and holds 30t of stocks now.
A consumer in South China reveals that the quotation they receive now for ferrovanadium 50%min is RMB133,000/t (USD38.6/kg V) EXW D/P and RMB135,000/t (USD39.2/kg V) EXW D/A 180 days, up by RMB1,000/t (USD0.3/kg V) from last week. He said, “As our consumption volumes are small, we usually make one purchase about every two months. We plan to purchase 10t of ferrovanadium in the near future; but as prices have not stabilized, we choose to wait on the sidelines for the time being.” Their expected price is RMB133,000/t (USD38.6/kg V) EXW D/A 180 days; and based on the current selling situation of their supplier, it’s quite likely that the source can purchase the material at their expected price. He believes that Chinese ferrovanadium prices would be stable in the coming week.
With an annual consumption capacity of 96t of ferrovanadium, the source expects to consume 5t in June, unchanged from May, and holds 5t of stocks now.
www.asianmetal.com
