FeV Price In Europe Continues To Be Weak

www.ferroalloynet.com: According to the market report, the price of ferrovanadium in the European market slightly fell to 24-24.5 USD/KgV, convert into 50# ferrovanadium was 84,600-86,300 Yuan/ton. Compared with last Friday’s price, it fell by 3900 Yuan/ton. The price of European V2O5 was 4.80-5.50 USD/LB V2O5, convert into V2O5 98% was 73,000-83,700 Yuan/ton; the price of ferrovanadium in United States was 13.2-13.5 USD/LB V, convert into 50# ferrovanadium was 102,500-104,800 Yuan/ton. Today’s exchange rate is USD: RMB = 7.0710:1.
Although the price of FeV in Europe has been falling, according to the low price of FeV in the European market of 84,600 Yuan/ton, the price of imported FeV is close to 100,000 Yuan/ton with tax. Therefore, unless the foreign manufacturers actively give discount, there is no profit in importing FeV from the European bulk market. At present, the exclusive domestic agent of Russian ferrovanadium, Shanghai Mica International Trade Co., has offered about 94,000 Yuan/ton, and has a good sales in China. But the ferrovanadium imported from other channels is hard to make profits.
Some traders are still booking the import of V2O5 flake. According to the current low price range, the import cost including tax is about 86,000 Yuan/ton, compared with the domestic market price of 93,000-93,500 Yuan/ton, there is still a certain profit margin.