Chinese ferrovanadium prices soar up
Date:Jun 20, 2018
BEIJING (Asian Metal) 20 Jun 18 – Due to tight supply of raw material vanadium pentoxide, most ferrovanadium producers chose to raise sale price of ferrovanadium affected by short of raw material. Currently, mainstream prices for Chinese ferrovanadium 50%min have risen to RMB223,000-226,000/t (USD68.90-69.82/kg V) Inc-VAT EXW D/P, up sharply by RMB13,000/t (USD4.02/kg V) from last week. Most market participants hold optimistic attitudes towards market outlook. It is anticipated that low price for Chinese ferrovanadium would generally rise to over RMB230,000/t (USD71.06/kg V) EXW D/P in the coming week.
A producer in North China said that they offer RMB226,000/t (USD69.82/kg V) EXW D/P for ferrovanadium 50%min now, up by RMB13,000/t (USD4.02/kg V) from last week. The source said, “Now we hold no stocks of raw material vanadium pentoxide with no spot supply in the market. With tight supply of raw material and ferrovanadium, we are in no hurry to accept orders temporarily and just supply goods to regular customers with long-term cooperation” The company mainly sells previous stocks of ferrovanadium now and refuses orders at lower prices. He expected that Chinese ferrovanadium 50%min prices would rise to RMB240,000/t (USD74.15/kg V) EXW D/P in the coming week.
