www.ferroalloynet.com: Recently, concerns about the supply of vanadium products in South Africa continue to drive the price of vanadium in the European market. According to yesterday’s market report, the price of ferrovanadium in the European market slightly up to 25.0-25.6 USD/KgV, convert into 50# ferrovanadium RMB price was 88,300-90,400 Yuan/ton. The price of European V2O5 was 5.20-6.25 USD/LB V2O5, convert into V2O5 98% RMB price was 79,400-95,400 Yuan/ton; the price of ferrovanadium in United States was 10.50-11.00 USD/LB V, convert into 50# ferrovanadium RMB price was 81,800-85,700 Yuan/ton. Today’s exchange rate is USD: RMB = 7.0661:1.
Although the demand of the real vanadium consumer in the international market is weak at present, traders are bearish to dump goods on the market at the early stage, and recently they have seen a rise and stocked up again. The market transaction activity is high. According to the ferrovanadium importers, the ferrovanadium has been successfully transacted in the European market recently, while to import is difficult. At present, the European price has risen to 90,000 Yuan/ton, and the import price plus tax is close to 100,000 Yuan/ton. Although some traders can get relatively low price goods and the import cost is about 90,000 Yuan/ton, there is no advantage when the domestic quotation is at 94,000 Yuan/ton. The instability of the domestic market results in the end users’ low willingness to accept future goods with long shipping days.