Chinese Ferrovanadium Prices Rebound Slightly
BEIJING (Asian Metal) 23 Apr 20 – As prices of raw material vanadium pentoxide flake 98%min stays firm during the past month, few suppliers would like to drop their quotation for ferrovanadium any more. Mainstream prices of Chinese ferrovanadium 50%min stand at RMB97,000-99,000/t (USD27.4-28.0/kg) delivered D/A 180 days, up by RMB1,000/t (USD0.3/kg) from this Tuesday. Insiders believe that mainstream prices of ferrovanadium would stay firm in the coming week.
A producer in Northeast China quotes their ferrovanadium 50%min at RMB99,000/t (USD28.0/kg) delivered D/A 180 days and could accept RMB97,500/t (USD27.5/kg) for firm bids more than 10t, up by RMB500/t (USD0.1/kg) from last week. “We sold 30t to one of our regular steel mill clients at RMB97,500/t (USD27.5/kg) delivered D/A 180 days this Monday,” said the source. Prices of raw material vanadium pentoxide flake 98%min didn’t change during the past month and we won’t drop prices of ferrovanadium 50%min to promote sales, or we would rather stop production. He believes that mainstream prices of ferrovanadium 50%min would edge up by RMB500/t (USD0.1/kg) in the coming week.
With an annual production capacity of 2,400t, they produced about 990t in 2019. They expect to produce 50t in April, unchanged from March, holding about 10t of stocks now, down by 30t from last month.
A producer in North China quotes their ferrovanadium 50%min at RMB98,000/t (USD27.7/kg V) delivered D/A 180 days and won’t accept any discount for firm bid, unchanged from last week. “We sold out all the 30t of stocks at RMB98,000/t (USD27.7/kg) early last week and we have no any inventory pressure now,” said the source. The current price of raw material vanadium pentoxide flake 98%min he received stands firm at RMB96,000/t (USD6.3/lb V2O5) EXW D/A 180 days, unchanged from last month. They only produce according to orders to avoid sales risk. He believes that mainstream prices of ferrovanadium 50%min would stay firm in the coming week.
With a consumption capacity of 3,600tpy, they produced about 1,070t in 2019. They were doing the overhaul during the past month. They would resume production according to orders, holding no stocks at the moment.
www.asianmetal.com
