Chinese ferrovanadium prices up slowly
Date: Oct 24, 2018
BEIJING (Asian Metal) 24 Oct 18 – Currently, mainstream prices for ferrovanadium 50%min stand at RMB497,000-500,000/t (USD71,648-72,080/t) Inc-VAT EXW D/P, up by RMB15,000/t (USD2,162/t) from last week. With the speed of price increase slowing down obviously compared with previous weeks, some traders began to sell their stocks and producers only arranged production based on their orders. Market participants mainly waited on the sidelines, and Chinese ferrovanadium prices are expected to be stable in the coming week.
A producer in North China said that they offer RMB500,000/t (USD72,080/t) for ferrovanadium 50%min at present, up by RMB15,000/t (USD2,162/t) from last week. They concluded no deals in recent two weeks due to the rapid price increase. He noted, “Market participants all wait on the sidelines and none of them would like to purchase ferrovanadium because of current high prices. So I believe prices are unlikely to rise in the coming week.” They last sold 10t of ferrovanadium 50%min at RMB410,000/t (USD59,106/t) two weeks ago.
