Baosteel To Buy Ferrovanadium

BEIJING (Asian Metal) 24 Mar 20 – Baoshan Iron & Steel Co., Ltd. prepares to buy 100t of ferrovanadium 50%min at the end of March and their target price keeps at RMB100,000/t (USD28.2/kg V) delivered D/A 180 days.

“We could consume about 180tpm of ferrovanadium 50%min in normal. As the demand of downstrem rebar keeps soft we arranged overhaul during March and April. We would consume 100tpm during this period of time,” said the source. He leant prices of vanadium pentoxide flake 98%min stand firm at RMB93,000/t (USD6.1/lb V2O5) EXW D/P now and they plan to buy 100t of ferrovanadium 50%min at no more than RMB100,000/t (USD28.2/kg V) delivered D/A 180 days at the end of this month.

Located in Shanghai, they consumed about 2,100t of ferrovanadium 50%min in 2019. They expect to consume 100t in March, down by 50t from February, holding 50t of stocks now.

This Monday, mainstream prices of Chinese ferrovanadium 50%min stand at RMB97,000-100,000/t (USD27.4-28.2/kg V) delivered D/A 180 days, unchanged from last week. As the cost keeps firm, few producers would like to drop their quotation to accept orders and the market stays in a stalemate.