CITIC Pacific To Make Purchase For Ferrovanadium

BEIJING (Asian Metal) 27 Mar 20 – CITIC Pacific Special Steel Holdings prepares to buy 200t of ferrovanadium 50%min at the end of March and their target price keeps at no more than RMB95,000/t (USD26.8/kg V) delivered D/A 180 days.

“I received the current prices for ferrovanadium 50%min stand at around RMB98,000/t (USD27.7/kg V) delivered D/A 180 days. However, we would make purchase at no more than RMB95,000/t (USD26.8/kg V) for 200t at the end of this month,” said the source. He added, due to the considerable purchase volume, there are already suppliers who would like to supply at this price level. He believes that mainstream prices of Chinese ferrovanadium 50%min would drop to RMB95,000/t (USD26.8/kg V) in the coming week.

Located in Changzhou, Jiangsu, it ownes such subordinate companies as Jiangyin Xingcheng Special Steel Works Co., Ltd, Hubei Xinyegang Steel Co., Ltd, Daye Special Steel Co., Ltd, Qingdao Special Steel Co., Ltd, Jingjiang Special Steel Co., Ltd, Tongling Pacific Special Materials Co., Ltd and Yangzhou Pacific Special Materials Co., Ltd. The buy ferrovanadium as one buyer. They are one of the largest consumers for ferrovanadium in China. They consumed about 2,500t in 2019 and expect to consume 200t in March, unchanged from February, holding less than 50t of stocks at the moment.

This Thursday, mainstream prices of Chinese ferrovanadium 50%min stand at RMB95,000-98,000/t (USD26.8-27.7/kg V) delivered D/A 180 days, down by RMB2,000/t (USD0.6/kg V) from last week.