Chinese ferrovanadium prices go down
2024-04-09 08:33:21 [Print]
BEIJING (Asian Metal) 9 Apr 24 - In view of the falling price of vanadium pentoxide flake 98%min, Chinese ferrovanadium 50%min prices decline to RMB85,000-87,000/t (USD11,751-12,027/t) EXW D/P, down by RMB2,000/t (USD276/t) from one week ago. Given the price downtrend of raw materials, insiders forecast that Chinese ferrovanadium 50%min prices would continue to move down in the upcoming week.
A producer in Shandong revealed that they quote RMB85,000/t (USD11,751/t) EXW D/P for ferrovanadium 50%min but close no deal until now. "We last sold 10t at RMB87,000/t (USD12,027/t) EXW D/P early this month and almost have no inquiries these days, with only this one deal," complained the producer, who predicts the prices of Chinese ferrovanadium 50%min would decrease in the coming week.
Based on an annual production capacity of 2,400t, the producer plans to produce 100t in April, without much change from last month. They produced about 1,500t last year. They hold approximately 30t inventory now.
Another producer in Liaoning illustrated that their offer for ferrovanadium 50%min now stands at RMB86,000/t (USD11,889/t) EXW D/P, and consider selling at RMB85,000/t (USD11,751/t) EXW D/P, while they refuse to sell below RMB86,000/t (USD11,889/t) EXW D/P one week ago. "We last sold 20t to our regular consumers at the price of RMB85,000/t (USD11,751/t) EXW D/P early this April, and we have no intention to sell lower than RMB85,000/t (USD11,751/t) EXW D/P these days," said the producer. He thinks that the price of Chinese ferrovanadium 50%min would slide due to the low demand from steel mills.
With an annual production capacity of 1,700t, the producer prepares to produce on orders this month while he produced around 100t in March. He produced almost 1,000t in total in 2023. He holds no stock now.
A producer in Shandong revealed that they quote RMB85,000/t (USD11,751/t) EXW D/P for ferrovanadium 50%min but close no deal until now. "We last sold 10t at RMB87,000/t (USD12,027/t) EXW D/P early this month and almost have no inquiries these days, with only this one deal," complained the producer, who predicts the prices of Chinese ferrovanadium 50%min would decrease in the coming week.
Based on an annual production capacity of 2,400t, the producer plans to produce 100t in April, without much change from last month. They produced about 1,500t last year. They hold approximately 30t inventory now.
Another producer in Liaoning illustrated that their offer for ferrovanadium 50%min now stands at RMB86,000/t (USD11,889/t) EXW D/P, and consider selling at RMB85,000/t (USD11,751/t) EXW D/P, while they refuse to sell below RMB86,000/t (USD11,889/t) EXW D/P one week ago. "We last sold 20t to our regular consumers at the price of RMB85,000/t (USD11,751/t) EXW D/P early this April, and we have no intention to sell lower than RMB85,000/t (USD11,751/t) EXW D/P these days," said the producer. He thinks that the price of Chinese ferrovanadium 50%min would slide due to the low demand from steel mills.
With an annual production capacity of 1,700t, the producer prepares to produce on orders this month while he produced around 100t in March. He produced almost 1,000t in total in 2023. He holds no stock now.
