Chinese ferrovanadium prices halve from the peak
Date: Dec 25, 2018
BEIJING (Asian Metal) 25 Dec 18 – Currently, mainstream prices for Chinese ferrovanadium 50%min keep dropping to RMB252,000-255,000/t (USD73.08-73.95/kg V) Inc-VAT EXW D/A 180 days, down by RMB21,000/t (USD6.09/kg V) from late last week and down by 257,000/t (USD74.53/kg V) from the peak in early November. Considering prices of downstream rebar began to rise steadily, insiders believe prices of this material would touch the bottom in the coming week.
A trader in North China quotes ferrovanadium 50%min at RMB255,000/t (USD73.95/kg V) at present, down by RMB15,000/t (USD4.35/kg V) from last week. “We didn’t make any deal in December as the price drop too quickly and the buyers including us avoid buying any vanadium products at the moment,” said the source. Their last deal was made in late November, when they sold 10t at RMB428,000/t (USD124.13/kg V). He is watching the market now and predicts the downtrend would slow down in the coming week as rebar prices have started to rise again.
