Chinese ferrovanadium prices soar
Date: Sep 13, 2018
BEIJING (Asian Metal) 13 Sep 18 – Currently, Chinese ferrovanadium 50%min prices are over RMB300,000/t (USD87.68/kg V), and the mainstream prices for the material stand at RMB305,000-308,000/t (USD88.84-89.72/kg V) EXW D/P, up sharply by RMB15,000/t (USD4.37/kg V) from early this week. Ferrovanadium producers continuously raised the lowest price as they had difficulty in purchasing vanadium pentoxide, the raw material. Besides, some of them would refuse orders at prices lower than RMB310,000/t (USD90.30/kg V). Prices for Chinese ferrovanadium are expected to rise rapidly in the coming week.
A producer in North China said that they offer RMB310,000/t (USD90.30/kg V) for ferrovanadium 50%min at present, up by RMB17,000/t (USD4.95/kg V) from last week. He noted, “There are many customers who would like to purchase ferrovanadium 50%min now, but we cannot get the raw material. We mainly sell existing stocks of ferrovanadium 50%min and could only accept orders for no more than 10t. As the raw material are likely to rise, producers didn’t sign the supply contract with us. So we are in no hurry to accept orders in view of the uncertain costs.” He last sold 5t of ferrovanadium 50%min at RMB293,000/t (USD85.35/kg V) last Wednesday. He predicted that Chinese ferrovanadium would rise rapidly in the coming week.
