Chinese ferrovanadium prices up rapidly
Date:Jun 6, 2018
BEIJING (Asian Metal) 6 Jun 18 – Promoted by a new round of biddings from steel mills, market transaction prices and volume for Chinese ferrovanadium moved up and mainstream transaction prices for Chinese ferrovanadium 50%min hold at RMB197,000-200,000/t (USD61.55-62.49/kg V) EXW D/A six months now, up by RMB7,000/t (USD2.19/kg V) from last week. Due to firm prices and tight supply of raw material, most market participants expect the prices up in the future. It is anticipated that Chinese ferrovanadium prices would keep an uptrend in the coming week.
A producer in North China said that they offer RMB200,000/t (USD62.49/kg V) EXW D/A six months for ferrovanadium 50%min now, up by RMB7,000/t (USD2.19/kg V) from last week. The source said, “Now the offers for vanadium pentoxide flake 98%min from large plants all stand at RMB190,000/t (USD13.74/lb V) EXW D/A six months, but generally with no spot supply. We can purchase the material from small plants and traders but with the sale price at least at RMB193,000/t (USD13.96/lb V) EXW D/P, so the sale price for ferrovanadium 50%min at least reaches RMB197,000/t (USD61.55/kg V) EXW D/A six months.” The company last sold 25t of ferrovanadium 60%min to a regular customer at RMB195,000/t (USD60.93/kg V) EXW D/A six months early this week. He expected that Chinese ferrovanadium prices would keep a slight uptrend in the coming week.
