Chinese ferrovanadium prices close to record high
Date: Sep 27, 2018
BEIJING (Asian Metal) 27 Sep 18 – Currently, the mainstream prices for Chinese ferrovanadium 50%min stand at RMB375,000-378,000/t (USD109.12-109.99/kg V) Inc-VAT EXW D/P, up by RMB25,000/t (USD7.27/kg V) from last week. They were just lower than the record high of RMB440,000/t (USD128.03/kg V) in 2004. Most producers held few stocks, and prices for Chinese ferrovanadium are expected to rise sharply in the coming week. The prices might rise to RMB410,000/t (USD119.30/kg V).
A producer in North China claimed that they offer RMB375,000/t (USD109.12/kg V) for ferrovanadium 50%min at present, up by RMB25,000/t (USD7.27/kg V) from last week. He said, “In the recent week, due to the rapid increase of vanadium prices, we received more enquiries than last week. But we failed to finish the deliveries for all of the concluded orders, so we are in no hurry to sell and would refuse counter-offers.” They last sold 10t of ferrovanadium 50%min at RMB350,000/t (USD101.84/kg V) one week ago. He predicted that Chinese ferrovanadium 50%min prices would rise to RMB410,000/t (USD119.30/kg V) in the coming week.
