Chinese ferrovanadium prices down
2023-04-24 08:23:44 [Print]
BEIJING (Asian Metal) 24 Apr 23 - In view of the weak demand and dropping raw material prices, Chinese ferrovanadium market mentality maintained negative over the past week. Currently, the mainstream prices of Chinese ferrovanadium 50%min stand at RMB120,000-122,000/t (USD35.2-35.8/kg V) delivered D/A 180 days, down by RMB5,000/t (USD1.5/kg V) from early last week. Considering that few buyers would like to add inventory and the negative market mentality continues, insiders believe that the mainstream prices of Chinese ferrovanadium 50%min would decline further in the coming week.
"Prices of vanadium pentoxide flake 98%min we inquired dropped to the latest around RMB113,000/t (USD7.6/lb V2O5) EXW D/P and no any buyers would like to add inventory for the moment," said a trader in North China. For firm bids, they could accept RMB120,000/t (USD35.2/kg V) EXW D/A 180 days for the moment. They last sold 10t of ferrovanadium 50%min at RMB122,000/t (USD35.8/kg V) delivered D/P late last week. Considering that most buyers prefer to watch the market and the rare inquiries in spot market continues, they predict that the mainstream prices of Chinese ferrovanadium 50%min would drop to around RMB115,000/t (USD33.7/kg V) EXW D/P in the coming week.
With a regular trading volume of 30tpm, sold about 350t in 2022 and about 90t in the first quarter of 2023. They expect to sell around 30t in April, almost the same volume as last month, holding no inventory for the moment, down by about 10t MoM.
"Few buyers would like to add inventory and we have to drop our price to attract buyer' interest. For firm bids, we could accept RMB118,000/t (USD34.6/kg V) EXW D/P," said another trader in North China. They last sold 10t of ferrovanadium 50%min at RMB122,000/t (USD35.8/kg V) about one week ago and didn't receive any new inquiries so far. Prices of vanadium pentoxide flake 98%min they inquired dropped to the latest around RMB112,000/t (USD7.5/lb V2O5) EXW D/P. Considering that the dropping raw material prices couldn't offer any effective support, they believe that the mainstream prices of Chinese ferrovanadium 50%min drop by about RMB3,000/t (USD0.9/kg V) in the following week.
With a regular trading volume of 30tpm, they sold about 360t in 2022 and about 100t so far this year. They expect to sell about 30t this month, down by about 10t from last month. They have no inventory for the moment, down by about 10t MoM.
"Prices of vanadium pentoxide flake 98%min we inquired dropped to the latest around RMB113,000/t (USD7.6/lb V2O5) EXW D/P and no any buyers would like to add inventory for the moment," said a trader in North China. For firm bids, they could accept RMB120,000/t (USD35.2/kg V) EXW D/A 180 days for the moment. They last sold 10t of ferrovanadium 50%min at RMB122,000/t (USD35.8/kg V) delivered D/P late last week. Considering that most buyers prefer to watch the market and the rare inquiries in spot market continues, they predict that the mainstream prices of Chinese ferrovanadium 50%min would drop to around RMB115,000/t (USD33.7/kg V) EXW D/P in the coming week.
With a regular trading volume of 30tpm, sold about 350t in 2022 and about 90t in the first quarter of 2023. They expect to sell around 30t in April, almost the same volume as last month, holding no inventory for the moment, down by about 10t MoM.
"Few buyers would like to add inventory and we have to drop our price to attract buyer' interest. For firm bids, we could accept RMB118,000/t (USD34.6/kg V) EXW D/P," said another trader in North China. They last sold 10t of ferrovanadium 50%min at RMB122,000/t (USD35.8/kg V) about one week ago and didn't receive any new inquiries so far. Prices of vanadium pentoxide flake 98%min they inquired dropped to the latest around RMB112,000/t (USD7.5/lb V2O5) EXW D/P. Considering that the dropping raw material prices couldn't offer any effective support, they believe that the mainstream prices of Chinese ferrovanadium 50%min drop by about RMB3,000/t (USD0.9/kg V) in the following week.
With a regular trading volume of 30tpm, they sold about 360t in 2022 and about 100t so far this year. They expect to sell about 30t this month, down by about 10t from last month. They have no inventory for the moment, down by about 10t MoM.
