Export Prices For Chinese Ferrovanadium Much Higher Than International Prices
Date: Apr 04, 2019
BEIJING (Asian Metal) 4 Apr 19 – Currently, export prices for Chinese ferrovanadium 80%min stay at USD55.5-56.5/kg V FOB China, down by USD6.0/kg V from last week, while in the international market, ferrovanadium prices drop even at a much faster pace, largely having gone down to below USD53.0/kg V. By comparison, export prices for Chinese ferrovanadium have fallen into a plight of being much higher than international prices, and most insiders feel pessimistic about future export prices for Chinese ferrovanadium, believing that they would keep going down in the coming week.
A producer in Northeast China quotes ferrovanadium 80%min at USD56.0/kg V FOB China in the export market now and can give a price of USD55.5/kg V as the lowest to clients who have real intention to buy, down by USD6.5/kg V from last week. “Early this week, we received an enquiry from a South Korean client who intended to buy 20t of ferrovanadium 80%min, and we responded with a quotation of USD56.0/kg V FOB China. But we failed to conclude the transaction as the client hoped to buy just at USD50.0/kg V,” the source said. “I heard that another supplier accepted this order indeed at a price of USD50.0/kg V. But even if the client is willing to buy at USD55.5/kg V, we will still refuse to sell since there are absolutely no profits for us to sell at this price,” the source added. They last sold 10t of ferronickel 80%min at USD62.0/kg V FOB China late last week. Considering that suppliers rush to dump their materials out of worry for potential risks, the source believes that export prices for Chinese ferrovanadium would keep going down in the coming week.
