Prices for Chinese ferrovanadium remain relatively stable
Date: Aug 14, 2018
BEIJING (Asian Metal) 14 Aug 18 – Currently, mainstream prices for Chinese ferrovanadium 50%min hold at RMB272,000-275,000/t (USD79.04-79.91/kg V) Inc-VAT EXW D/A 6 months, down by RMB3,000/t (USD0.87/kg V) from last week. As there are few steel mills opening biddings during the middle of August, supply in the ferrovanadium seems improving to some extent, and prices in some regional markets begin to soften. But as prices for raw material vanadium pentoxide still hold at a high level, mainstream prices for ferrovanadium are likely to remain unchanged for some time, and market players therefore harbor a stable attitude. Insiders anticipate that prices for Chinese ferrovanadium would remain relatively stable in the coming week.
A producer in North China quotes ferrovanadium 50%min at RMB275,000/t (USD79.91/kg V) Inc-VAT EXW D/A 6 months now, down by RMB3,000/t (USD0.87/kg V) from last week. The source said, “Nobody will buy if our quotation for ferrovanadium is high, so we voluntarily lower our quotation. At present we are able to make smooth sales at RMB275,000/t (USD79.91/kg V), but most of the buyers are our old clients who make hand-to-mouth purchases.” The source last sold 10t of the material at RMB278,000/t (USD80.78/kg V) Inc-VAT EXW D/A 6 months early last week; Early this week they received an enquiry from a consumer who intended to purchase at RMB275,000/t (USD79.91/kg V) Inc-VAT EXW D/A 6 months, and both sides are under negotiation now. The source anticipated that prices for Chinese ferrovanadium would remain relatively stable in the coming week.
