Chinese ferrovanadium prices start to be under adjustment
Date: Nov 1, 2018
BEIJING (Asian Metal) 1 Nov 18 – Currently, mainstream prices for ferrovanadium 50%min stand at RMB508,000-511,000/t (USD145.74-146.60/kg V) Inc-VAT delivered D/A six months, up by RMB11,000/t (USD3.16/kg V) from last week. As downstream buyers all delayed to purchase, the market saw limited transactions. With the international ferrovanadium prices starting to drop, some consumers began to purchase from abroad. Market participants predicted that Chinese ferrovanadium prices would reach the highest level and be under adjustment in the coming week.
A producer in North China said they offer ferrovanadium 50%min at RMB510,000/t (USD146.32/kg V) at present, up by RMB10,000/t (USD2.87/kg V) from last week. He noted, “As the current demand is weak and buyers all wait on the sidelines, it is hard to make deals. But we have no plan to reduce the price to sell temporarily due to the high prices for the raw material vanadium pentoxide.” He last sold 10t of the material at RMB495,000/t (USD142.01/kg V) early last week. He revealed that the prices they receive for the raw material vanadium pentoxide is RMB520,000/t (USD34.53/lb V) Inc-VAT EXW D/A six months at present, and he thought Chinese ferrovanadium prices would keep firm in the coming week supported by prices of the raw material.
