Chinese ferrovanadium market sees quiet transactions

Date: Feb 1, 2018

BEIJING (Asian Metal) 1 Feb 18 – Now consumers make few purchases with inactive transactions in Chinese ferrovanadium market. Mainstream transaction prices for Chinese ferrovanadium 50%min stand at RMB184,000-187,000/t (USD58.33-59.28/kg V) EXW D/P now, down by RMB1,000/t (USD0.32/kg V) from last week.  Market participants predict that prices for Chinese ferrovanadium would keep weakly stable in the coming week.

A producer in South China said, “With the upcoming of Spring Festival, ferrochrome suppliers hold stronger intentions to sell for cash out, leading to slight decline of actual transaction prices despite no change of offers.” Their current quotation for ferrovanadium 50%min still stand at RMB190,000/t (USD60.23/kg V) EXW D/P, unchanged from last week. The company last sold 10t of ferrovanadium 50%min at RMB187,000/t (USD59.28/kg V) EXW D/A 6 months last Wednesday. The source believed that prices for upstream raw material vanadium pentoxide are stable for the moment, which locks the bottom prices for ferrovanadium, so it is expected that prices for Chinese ferrovanadium would keep stable in the coming week.

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