Chinese ferrovanadium prices up under adjustment
Date:May 25, 2018
BEIJING (Asian Metal) 25 May 18 – Mainstream prices for Chinese ferrovanadium 50%min hold at RMB190,000-193,000/t (USD59.54-60.48/kg V) EXW D/A six months now, up by RMB1,000/t (USD0.31/kg V) from last week. Raw material prices stay at high level, leading to higher production cost of ferrovanadium, so suppliers see obviously fewer deals concluded at low prices. It is anticipated that Chinese ferrovanadium prices would keep being in stalemate in the coming week.
A producer in South China said that the lowest price for ferrovanadium 50%min that they can accept stands at RMB190,000/t (USD59.54/kg V) EXW D/A six months now, and they refuse to accept orders at lower prices. The source said, “Now purchasing prices for raw material stay at high level, so we use powder vanadium with cheaper prices as raw material, and the current purchasing price for powder vanadium 98%min stands at RMB184,000/t (USD57.66/kg V) EXW D/P, while that for vanadium pentoxide flake 98%min is higher by at least RMB2,000/t (USD0.63/kg V), but even so, ferrovanadium prices are near to be less than production cost.” The company last sold 20t of ferrovanadium 50%min at RMB190,000/t (USD59.54/kg V) EXW D/A six months early this week. He believed that the current ferrovanadium prices have reached the bottom and expected that Chinese ferrovanadium prices would begin picking up in the coming week.
