Chinese ferrovanadium prices down

Date:Apr 18, 2018

BEIJING (Asian Metal) 18 Apr 18 – Depressed by biddings from steel mills, Chinese ferrovanadium prices fell back continuously. Mainstream prices for Chinese ferrovanadium 50%min have declined to RMB195,000-198,000/t (USD62.12-63.08/kg V) delivered D/A six months now, down by RMB5,000/t (USD1.59/kg V) from last week. At the same time, prices for vanadium products in international market also dropped accordingly. It is predicted that prices for Chinese ferrovanadium would keep stable weakly in the coming week.

A producer in South China said that the lowest price for ferrovanadium 50%min that they can accept now stands at RMB195,000/t (USD62.12/kg V) EXW D/P, down by RMB5,000/t (USD1.59/kg V) from last week. He said, “Now ferrovanadium market sees sluggish demand and few traders enter the market for purchase except limited purchases from steel mills. Everyone is watching the market and we did not receive any enquiries from downstream customers in recent one week. As prices for raw material vanadium pentoxide flake stay at high level, the current ferrovanadium prices have been close to the cost line, so we refuse orders at lower prices.” The source disclosed that the offer for vanadium pentoxide flake 98%min they received from suppliers holds at over RMB190,000/t (USD14.01/lb V) EXW D/A six months now. He expected that supported by raw material cost, prices for Chinese ferrovanadium would keep stable in the coming week.

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