Chinese ferrovanadium prices begin reaching top
Date:Jul 06, 2018
BEIJING (Asian Metal) 6 Jul 18 – Affected by tight supply of raw material and increase of demand from downstream market, Chinese vanadium market sees an unprecedented prosperity. Up to now, mainstream prices for ferrovanadium 50%min have risen to RMB282,000-285,000/t (USD84.97-85.88/kg V) delivered D/A six months, up sharply by RMB40,000/t (USD12.05/kg V) from last week. With this high price, ferrovanadium began selling goods actively. Market participants predicted that prices for Chinese ferrovanadium would reach the top and stay at high level in the coming week.
A producer in North China noted that the lowest price for ferrovanadium 50%min they can accept is RMB285,000/t (USD85.88/kg V) EXW D/A six months at present, up by RMB40,000/t (USD12.05/kg V) from last week. He said, “Now there have been transactions concluded in batch at RMB285,000/t (USD85.88/kg V) D/A six months on the market. We just delivered concluded orders before with no stocks, while we have a truck of stocks for sale and we are willing to sell all of them if customers would like to purchase at prices no lower than this level.” They received one enquiry from a consumer this Thursday who offered RMB280,000/t (USD84.37/kg V) EXW D/A six months which was lower than the bottom price, so we did not conclude the deal.
