Chinese ferrovanadium prices on the decline
2015-11-30 08:58:46 [Print]
BEIJING (Asian Metal) 30 Nov 15 - Sources reported that Chinese ferrovanadium 50%min prices decrease to RMB38,000-40,000/t (USD11.9-12.5/kg V) D/A delivered, with a decrease of 2,000/t (USD0.62/kg V) from that of ten days ago. As the market demand becomes weaker and producers are faced with heavier financial pressure, ferrovanadium 50%min prices keep falling in the end of month. Taking account of downstream market, it’s assumed that ferrovanadium prices will stay at low prices level in the coming week.
A consumer in Hunan stated that Chinese ferrovanadium 50%min market sees sliding prices. They plan to purchase about 20t in early December and received some offers from regular suppliers in late last week. “The prices I got were around RMB39,000/t (USD12.2/kg V) D/A delivered, with a decrease of RMB4,000/t (USD1.2/kg V) from my last purchase in mid-November. I think the prices will go down further so we delay making purchases,” said the source. He confirmed that they will buy if the prices decline to RMB37,000/t (USD11.6/kg V) D/A delivered this week, but he thought there is little room for prices to drop as most of ferrovanadium producers halted production.
With regular monthly consumption volume of 50t, they consumed about 20t this month, down by 30t from October, having about two weeks of stocks at hand now.
Another consumer in Shandong reported that Chinese ferrovanadium market demand is on the decline. Late last week, they purchased about 10t of ferrovanadium 50%min at RMB37,000/t (USD11.6/kg V) by cash payment, with a decrease of 5,000/t (USD1.6/kg V) from that of last purchase in late October. “We dare not hold much stocks as the prices keep falling. As far as I knew, almost steel mills have to reduce production now,” said the source.
With monthly consumption volume of 20t, they used about 8t in November, with a decrease of 10t from that of October, holding about 5t of stocks at the moment.
A consumer in Hunan stated that Chinese ferrovanadium 50%min market sees sliding prices. They plan to purchase about 20t in early December and received some offers from regular suppliers in late last week. “The prices I got were around RMB39,000/t (USD12.2/kg V) D/A delivered, with a decrease of RMB4,000/t (USD1.2/kg V) from my last purchase in mid-November. I think the prices will go down further so we delay making purchases,” said the source. He confirmed that they will buy if the prices decline to RMB37,000/t (USD11.6/kg V) D/A delivered this week, but he thought there is little room for prices to drop as most of ferrovanadium producers halted production.
With regular monthly consumption volume of 50t, they consumed about 20t this month, down by 30t from October, having about two weeks of stocks at hand now.
Another consumer in Shandong reported that Chinese ferrovanadium market demand is on the decline. Late last week, they purchased about 10t of ferrovanadium 50%min at RMB37,000/t (USD11.6/kg V) by cash payment, with a decrease of 5,000/t (USD1.6/kg V) from that of last purchase in late October. “We dare not hold much stocks as the prices keep falling. As far as I knew, almost steel mills have to reduce production now,” said the source.
With monthly consumption volume of 20t, they used about 8t in November, with a decrease of 10t from that of October, holding about 5t of stocks at the moment.
Ferro-vanadium 50%min In port China
Unit:RMB/mt
China vanadium nitride producers' inventory to production ratio statistics by province by month
Unit: %
