Essel Mining & Industries to reduce ferrovanadium output
2024-04-17 08:32:48 [Print]
BEIJING (Asian Metal) 17 Apr 24 - Essel Mining & Industries Limited., one of the major ferrovanadium 50%min producers in India, expects to reduce ferrovanadium 50%min output by 15t MoM to about 90t in April 2024.
"My clients became inactive in sending orders over the past two weeks, so we expect to produce only around 75t this month, while our output in March recorded about 90t," said a source from the company.
Establishing in 1950, Essel Mining & Industries Limited owns an annual production capacity of 1,800t of ferrovanadium 50%min. The company's outputs in 2023 and so far in 2024 recorded approximately 1,100t and 260t respectively. It holds an inventory of about 50t now, without much change MoM.
The current ferrovanadium 50%min mainstream prices in India stand at INR1,200-1,250/kg (USD14.4-15.0/kg) delivered D/P, in line with one week ago. The market sees slow buying activities as buyers purchase inactively.
"My clients became inactive in sending orders over the past two weeks, so we expect to produce only around 75t this month, while our output in March recorded about 90t," said a source from the company.
Establishing in 1950, Essel Mining & Industries Limited owns an annual production capacity of 1,800t of ferrovanadium 50%min. The company's outputs in 2023 and so far in 2024 recorded approximately 1,100t and 260t respectively. It holds an inventory of about 50t now, without much change MoM.
The current ferrovanadium 50%min mainstream prices in India stand at INR1,200-1,250/kg (USD14.4-15.0/kg) delivered D/P, in line with one week ago. The market sees slow buying activities as buyers purchase inactively.
