Date:May 29, 2018
BEIJING (Asian Metal) 29 May 18 – Mainstream transaction prices for Chinese ferrovanadium 50%min hold at RMB190,000-193,000/t (USD59.40-60.34/kg V) EXW D/A six months now, unchanged from last week. Depressed by steel mills’ biddings, rebounding of Chinese ferrovanadium prices was restricted severely. Although producers actively try raising offers, transaction prices are still below the cost line. It is anticipated that Chinese ferrovanadium prices would keep slight uptrend in the coming week.
A producer in South China said that the lowest price for ferrovanadium 50%min that they can accept stands at RMB193,000/t (USD60.34/kg V) EXW D/A six months now, unchanged from last week. The source said, “Now prices for raw material stay at high level and the lowest purchasing price for vanadium pentoxide flake 98%min is over RMB190,000/t (USD59.40/kg V) EXW D/A six months, so the sale price for ferrovanadium 50%min at least reaches RMB200,000/t (USD62.53/kg V) which is not accepted by buyers. Therefore, we have to mainly sell previous stocks.” The company last sold 10t of ferrovanadium 60%min at RMB193,000/t (USD60.34/kg V) EXW D/A six months early last week. He expected that Chinese ferrovanadium prices would keep moving forward in stalemate in the coming week.