Chinese ferrovanadium prices drop
2023-03-22 07:51:02 [Print]
BEIJING (Asian Metal) 22 Mar 23 - In view of the sufficient supply in spot market, Chinese ferrovanadium 50%min market mentality kept soft during the past week. Currently, the mainstream prices of Chinese ferrovanadium 50%min stand at RMB145,000-147,000/t (USD41.7-42.2/kg V) delivered D/A 180 days, down by RMB2,000/t (USD0.6/kg V) from middle last week. Considering that inquiries in spot market stay rare now, insiders expect that the mainstream prices of Chinese ferrovanadium 50%min would stay soft in the coming week.
"No buyers would like to add inventory for the moment, and we face increasing stock pressure now. In order to promote sales, we could accept RMB145,000/t (USD41.7/kg V) delivered D/P now," said a producer in North China. They just sold 10t of ferrovanadium 50%min at RMB145,000/t (USD41.7/kg V) this Monday, but refused to sell at any prices below RMB147,000/t (USD42.2/kg V) just one week ago. Prices of vanadium pentoxide flake 98%min they inquired stayed in a stalemate at around RMB138,000/t (USD9.2/lb V2O5) EXW D/P during the past week. Though inquiries in spot market stay rare now, supported by firm raw material prices, they expect that the mainstream prices of Chinese ferrovanadium 50%min would stay steady in the coming week.
With an annual production capacity of 1,200t, they only produced about 240t in 2022 due to COVID control and about 50t in the first two months of 2023. They expect to produce about 25t this month, almost the same as last month, holding around 20t of inventories for the moment, unchanged MoM.
"Buyers could easily find enough goods in spot market, and we could hardly maintain our price firm. In order to guarantee our price competitiveness, we could accept RMB145,000/t (USD41.7/kg V) delivered D/P now," said another producer in Northeast China. They just sold 10t of ferrovanadium 50%min at this price level this Tuesday. However, their regular clients could still accept RMB148,000/t (USD42.5/kg V) just one week before. Prices of vanadium pentoxide flake 98%min they inquired moved down by around RMB1,000/t (USD0.1/lb V2O5) from one week ago to the latest around RMB137,000/t (USD9.1/lb V2O5) EXW D/P. Considering that the negative market mentality continues, they predict that the mainstream prices of Chinese ferrovanadium 50%mi would move down slightly in the following week.
With an annual production capacity of 2,400t, they produced about 620t in 2022 and about 100t so far this year. They expect to produce about 50t in March, almost the same as February. They have around 10t of regular stocks now, unchanged MoM.
"No buyers would like to add inventory for the moment, and we face increasing stock pressure now. In order to promote sales, we could accept RMB145,000/t (USD41.7/kg V) delivered D/P now," said a producer in North China. They just sold 10t of ferrovanadium 50%min at RMB145,000/t (USD41.7/kg V) this Monday, but refused to sell at any prices below RMB147,000/t (USD42.2/kg V) just one week ago. Prices of vanadium pentoxide flake 98%min they inquired stayed in a stalemate at around RMB138,000/t (USD9.2/lb V2O5) EXW D/P during the past week. Though inquiries in spot market stay rare now, supported by firm raw material prices, they expect that the mainstream prices of Chinese ferrovanadium 50%min would stay steady in the coming week.
With an annual production capacity of 1,200t, they only produced about 240t in 2022 due to COVID control and about 50t in the first two months of 2023. They expect to produce about 25t this month, almost the same as last month, holding around 20t of inventories for the moment, unchanged MoM.
"Buyers could easily find enough goods in spot market, and we could hardly maintain our price firm. In order to guarantee our price competitiveness, we could accept RMB145,000/t (USD41.7/kg V) delivered D/P now," said another producer in Northeast China. They just sold 10t of ferrovanadium 50%min at this price level this Tuesday. However, their regular clients could still accept RMB148,000/t (USD42.5/kg V) just one week before. Prices of vanadium pentoxide flake 98%min they inquired moved down by around RMB1,000/t (USD0.1/lb V2O5) from one week ago to the latest around RMB137,000/t (USD9.1/lb V2O5) EXW D/P. Considering that the negative market mentality continues, they predict that the mainstream prices of Chinese ferrovanadium 50%mi would move down slightly in the following week.
With an annual production capacity of 2,400t, they produced about 620t in 2022 and about 100t so far this year. They expect to produce about 50t in March, almost the same as February. They have around 10t of regular stocks now, unchanged MoM.
