South Korean ferrovanadium prices down as participants await tenders this week
2015-09-21 08:54:16 [Print]
BEIJING (Asian Metal) 21 Sep 15 - As buying activity on ferrovanadium 80%min remains at low level, mainstream prices are down by more than USD0.50/kg V with new offers from China at USD15.0/kg V CIF Busan ports and domestically-produced material being concluded at below USD15.4/kg V d.d.p.
A trader with less than 100t in monthly sales turnover confirmed the price drop and stated the company offered 5t-lot of Chinese-origin ferrovanadium 80%min at USD15.3/kg V ex warehouse Busan but could not find any buyers as most of the proposed bids received were at USD14.8-15.0/kg V ex warehouse Busan.
“Potential buyers are holding back purchases knowing that price is softening because of weak demand,” remarked the source but defended the price stating that offers from Chinese suppliers were also firm at USD15.0/kg V CIF Busan ports and needed to add some reasonable margins to the purchase price.
Following lack of big ferrovanadium 80%min tenders in more than two weeks, insiders revealed there is a 10t-tender this week and traders with the knowledge of the tender reportedly sought to make purchases of Chinese-origin material last week at USD14.8-14.9/kg V CIF Busan ports but the bids were rejected by suppliers of Chinese-origin ferrovanadium 80%min.
Also for vanadium pentoxide material, participants confirmed downward price corrections of USD0.10/lb with new offer prices for cargo shipment from China at USD3.20-3.30/lb ex Busan warehouse but a potential buyer stated the company would rather bid at USD3.05/lb ex Busan ports for South African-origin material and was of the view that Chinese suppliers would be under pressure to reduce their prices further by at least another USD0.10-0.15/lb in order to be competitive.
A trader with less than 100t in monthly sales turnover confirmed the price drop and stated the company offered 5t-lot of Chinese-origin ferrovanadium 80%min at USD15.3/kg V ex warehouse Busan but could not find any buyers as most of the proposed bids received were at USD14.8-15.0/kg V ex warehouse Busan.
“Potential buyers are holding back purchases knowing that price is softening because of weak demand,” remarked the source but defended the price stating that offers from Chinese suppliers were also firm at USD15.0/kg V CIF Busan ports and needed to add some reasonable margins to the purchase price.
Following lack of big ferrovanadium 80%min tenders in more than two weeks, insiders revealed there is a 10t-tender this week and traders with the knowledge of the tender reportedly sought to make purchases of Chinese-origin material last week at USD14.8-14.9/kg V CIF Busan ports but the bids were rejected by suppliers of Chinese-origin ferrovanadium 80%min.
Also for vanadium pentoxide material, participants confirmed downward price corrections of USD0.10/lb with new offer prices for cargo shipment from China at USD3.20-3.30/lb ex Busan warehouse but a potential buyer stated the company would rather bid at USD3.05/lb ex Busan ports for South African-origin material and was of the view that Chinese suppliers would be under pressure to reduce their prices further by at least another USD0.10-0.15/lb in order to be competitive.
Ferro-vanadium 80%min In warehouse Rotterdam
Unit:USD/kg V
China vanadium nitride producers' sales to production ratio statistics by province by month
Unit: %
