Chinese Ferrovanadium Prices Rebound
BEIJING (Asian Metal) 14 Nov 19 – Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB101,000-104,000/t (USD28.8-29.6/kg V) EXW D/A 180 days, up by RMB2,000/t (USD0.6/kg V) from last week. As prices of raw material increase slightly, producers of ferrovanadium increase their quotation accordingly. Insiders believe prices of ferrovanadium would edge up in the coming week.
A consumer in North China claimed the current quotation for ferrovanadium 50%min he received stands at RMB105,000/t (USD29.9/kg V) EXW D/A 180 days and can buy at RMB104,000/t (USD29.6/kg V) for firm bids, up by RMB3,000/t (USD0.9/kg V) from last week. “The current price for vanadium pentoxide flake 98%min I heard stands at RMB100,000/t (USD28.5/kg V) EXW D/A 180 days. It’s hard to find raw material below this price level at the moment,” said the source. Their last deal was made late last week, when they bought 10t at RMB101,000/t (USD28.8/kg V). Considering the cost keeps high, he believes prices of ferrovanadium 50%min would increase to RMB107,000/t (USD30.5/kg V) in the coming week.
With an annual consumption capacity of 180t, they consumed 150t in 2018 and have consumed 120t this year. They expect to consume 10t in November, unchanged from October, holding 10t of stocks now, the same with last month.
A trader in North China noted their ferrovanadium 50%min at RMB104,000/t (USD29.6/kg V) EXW D/A 180 days and can accept RMB102,000/t (USD29.1/kg V) for firm bids, up by RMB2,000/t (USD0.6/kg V) from last week. “Our last deal was made last Thursday, when we sold 5t to one of our regular clients at RMB100,000/t (USD28.5/kg V),” said the source. He added, “We bought 30t of vanadium pentoxide flake 98%min at RMB95,000/t (USD6.3/lb V2O5) EXW D/P last week and the supplier increased their quotation to RMB98,000/t (USD6.5/lb V2O5) now,” said the source. Considering the cost increased, he believes prices of ferrovanadium 50%min would increase by RMB5,000/t (USD1.4/kg V) in the coming week.
With a regular trading volume of 30tpm, they sold 300t in 2018 and have sold 220t this year. They expect to sell 30t in November, the same with October. They have 15t in hands now, up by 5t from last week.
www.asianmetal.com
