BEIJING (Asian Metal) 10 May 19 – Huaigang Special Steel under Shagang Group announced the bidding result for ferrovanadium this Thursday, stating that it purchased 15t of ferrovanadium 50%min at RMB152,000/t (USD22,269/t) delivered D/A 180 days.

The purchase price was the lowest in the recent year, which made it more possible for vanadium products’ prices to fall.

According to Asian Metal, most Chinese producers offer ferrovanadium 50%min at RMB158,000-161,000/t (USD23,148-23,588/t) EXW D/A 180 days now, down by RMB14,000/t (USD2,051/t) from last week. As the purchase prices of steel mills were lower than expected, prices for Chinese ferrovanadium are expected to fall in the coming week.