BEIJING (Asian Metal) 13 Mar 20 – With an annual consumption capacity of 1,200t for ferrovanadium, Xinyu Steel Co., LTD plans to make purchase at the end of March.

“Our last deal was made at the end of January and we were consuming the history stocks during the past two months. According to our consumption plan, we prepare to buy 50t of ferrovanadium 50%min at the end of this month,” said the source. The current price for ferrovanadium 50%min he received stands at RMB101,000/t (USD28.8/kg V) Delivered D/P and their target price stands at RMB98,000/t (USD28.0/kg V).¬†They would make purchase twice per month in normal.

Located in Xinyu, Jiangxi, they consumed 1,000t in 2019 and have consumed 170t so far this year. They expect to consume 90t in March, up by 10t from February, holding 50t of stocks now, down by 40t from last month.

Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB98,000-100,000/t (USD28.0-28.8/kg V) EXW D/P, unchanged from last week.