Ferrovanadium price touches new low
2005-06-14 08:59:14 【Print】
BEIJING (Asian Metal) 14 Jun 05 – As the Chinese ferrovanadium market has kept softening recently, prices touched a new low this week, producers reported.
"We now quote RMB330,000/t for ferrovanadium 50% and have concluded a few deals at this price," a sales manager from a Sichuan-based company told Asian Metal. "Actually most of our deals are concluded at RMB320,000/t, with a few concluded at RMB310,000-315,000/t for large quantities.
"I heard that some producers sell for RMB300,000/t now, but that's difficult for us. Our lowest prices are around RMB310,000/t for ferrovanadium 50%," said the producer.
The smelter's FeV 50% prices were around RMB350,000-360,000/t early June.
With vanadium pentoxide supplied by its own smelter, the company produces about 150tpm of ferrovanadium 50%, and usually sells its products to traders in South China.
The source believes FeV prices will continue to drop in the coming weeks.
"We sold 5t of vanadium pentoxide for RMB290,000/t this morning,” a senior manager from a Henan-based smelter told Asian Metal. "Ferrovanadium prices are around RMB320,000/t now, so we have to quote RMB290,000/mt for vanadium pentoxide, and buyers can also accept this price.
"The vanadium pentoxide price is really falling now, but not drastically, I don’t think. We can’t accept prices below RMB280,000/t anymore,” said the producer.
The smelter produces about 30tpm of vanadium pentoxide at present.
