Chinese ferrovanadium prices soar up
Date: Sep 11, 2018
BEIJING (Asian Metal) 11 Sep 18 – Currently, mainstream prices for Chinese ferrovanadium 50%min stand at RMB290,000-293,000/t (USD84.54-85.42/kg V) Inc-VAT EXW D/P, up sharply by RMB10,000/t (USD2.92/kg V) from last week. Due to the tight supply and high prices for the raw material vanadium pentoxide flake, most ferrovanadium producers held prices firm and sold cautiously. Quotations from some producers reached RMB300,000/t (USD87.46/kg V), but no bulk orders concluded at the price. Prices for Chinese ferrovanadium are expected to rise sharply in the coming week.
A ferrovanadium 50%min trader in North China said that they offer RMB300,000/t (USD87.46/kg V) for the material now, up by RMB10,000/t (USD2.92/kg V) from last week. He noted, “We used to be a ferrovanadium producer, but the production line was shut down because we could not get the raw material vanadium pentoxide. At present, we have been transformed into a trading enterprise. As ferrovanadium is in short supply now, we are in no hurry to sell at low prices.” He revealed that they last sold 5t of ferrovanadium 50%min at RMB290,000/t (USD84.54/kg V) last Friday. He predicted that Chinese ferrovanadium prices would move up sharply in the coming week.
