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Chinese ferrovanadium prices up slowly

Date:Jul 10, 2018

BEIJING (Asian Metal) 10 Jul 18 – Currently, mainstream prices for ferrovanadium 50%min stand at RMB290,000-293,000/t (USD87.67-88.58/kg V) EXW D/A six months, up by RMB8,000/t (USD12.05/kg V) from last week, which was greatly slowed compared with RMB30,000-40,000/t (USD2.42/kg V) in the previous two weeks. With steel mills gradually completing biddings of early July, the market demand was satisfied temporarily. Ferrovanadium producers began holding some surplus output for sale. Market participants predicted that prices for Chinese ferrovanadium would stay at high level in the coming week due to tight supply of raw material vanadium pentoxide flake.

A producer in North China noted that they offer RMB290,000/t (USD87.67/kg V) EXW D/A six months for ferrovanadium 50%min at present, up by RMB8,000/t (USD2.42/kg V) from last week. He said, “Now it is quite difficult to purchase raw material vanadium pentoxide flake due to high price and tight supply. We received enquiries from consumers continuously in recent days, while we can only sell stocks now due to tight supply of raw material, so we are in no hurry to accept new orders and refuse orders at prices lower than our offer.” They last sold 10t at RMB282,000/t (USD85.25/kg V) EXW D/A six months last Thursday. He expected that prices for Chinese ferrovanadium would keep firm in the coming week.

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