Japanese Ferrovanadium Import Prices Drop
BEIJING (Asian Metal) 28 May 20 – Currently, mainstream import prices of Japanese ferrovanadium 80%min stand at USD24-25/kg V CIF Japan, down by USD0.5/kg V from one week ago. End consumers only purchase according to urgent need and the market demand stays quiet. Considering most market plaers keep watching attitude, insiders believe that mainstream prices would keep steady in the coming week.
A trader in Japan quotes their ferrovanadium 80%min at USD25/kg V CIF Japan and could accept USD24/kg V for firm bids more than 20t, down by USD0.5/kg V from last week. “We sold 10t at USD24.5/kg V and 20t at USD24/kg V to our regular clients this week,” said the source. One of their steel mill clients sent inquiry for 40t to them early this week but only wanted to buy at no more than USD23/kg V. They refused this order directly. He receives the current price for vanadium pentoxide flake 98%min stand at USD5.8/lb V2O5 CIF Japan now, down by USD0.2/lb V2O5 from last week. Considering prices of raw material dropped slightly, he believes that mainstream prices of ferrovanadium 80%min would stay weak in the coming week.
With a regular trading volume of 60tpm, they sold about 60t in April and expect the same volume in May, holding no stocks now, down by 30t from last month.
A consumer in Japan claims the current import price for ferrovanadium 80%min he received stands at USD24.5/kg V CIF Japan, down by USD0.5/kg V from last week. “Our suppliers import ferrovanadium 80%min from European market and their prices would keep related. I heard prices kept dropping due to the weak demand from steel mills in Europe and Japan,” said the source. Their last deal was made early this week, when they bought 30t at USD24.5/kg V. Considering the supply situation for ferrovanadium stays loose, he believes that mainstream prices of ferrovanadium 80%min would keep weak in the coming week.
With an annual consumption capacity of 400t, they consumed about 360t in 2019 and expect the same volume this year. They expect to consume about 30t in May, unchanged from April, holding about 30t of stocks now, the same as last month.
www.asianmetal.com
