Chinese ferrovanadium prices go up
2024-04-23 08:28:22 [Print]
BEIJING (Asian Metal) 23 Apr 24 - Given the increasing price trend of vanadium pentoxide flake 98%min, the mainstream prices of Chinese ferrovanadium 50%min increase to RMB86,000-88,000/t (USD11,873-12,149/t) EXW D/P this week, up by around RMB2,000/t (USD276/t) from last week. Insiders predict that the price would continue to go up in the upcoming week.
A producer in Northeast China revealed that they raise their quotation for ferrovanadium 50%min to RMB89,000/t (USD12,288/t) EXW D/P while they quote around RMB86,000/t (USD11,873/t) EXW D/P last week. "We get an inquiry this morning from a client who still wants to purchase at RMB86,000/t (USD11,873/t) EXW D/P, but we refused. It is difficult for us to buy vanadium pentoxide flake 98%min below RMB77,000/t ( USD10,631/t) now, therefore we have to increase our quotation," explained the producer, who believes the price would rise in the following days.
Based on an annual production capacity of 1,700t, the producer plans to produce 100t in April, without much change from last month. He produced around 1,000t last year, holding no stock now.
Another producer from Northeast China claimed that their quotation for ferrovanadium 50%min increases to RMB88,000/t (USD12,149/t) EXW D/P and they refuse to sell below the price. However, they quoted in a range of RMB86,000-87,000 (USD11,873-USD12,011) EXW D/P last week. "Our orders cover the output until late May, therefore we increase the quotation for low stock pressure," noted the producer, who also mentioned the increasing prices of raw material. He discloses that they would follow the market price and they currently have no worries about selling.
With an annual production capacity of 3,000t, the producer expects to produce 200t this month. He produced around 200t in March and 2,000t last year. He has no inventory now.
A producer in Northeast China revealed that they raise their quotation for ferrovanadium 50%min to RMB89,000/t (USD12,288/t) EXW D/P while they quote around RMB86,000/t (USD11,873/t) EXW D/P last week. "We get an inquiry this morning from a client who still wants to purchase at RMB86,000/t (USD11,873/t) EXW D/P, but we refused. It is difficult for us to buy vanadium pentoxide flake 98%min below RMB77,000/t ( USD10,631/t) now, therefore we have to increase our quotation," explained the producer, who believes the price would rise in the following days.
Based on an annual production capacity of 1,700t, the producer plans to produce 100t in April, without much change from last month. He produced around 1,000t last year, holding no stock now.
Another producer from Northeast China claimed that their quotation for ferrovanadium 50%min increases to RMB88,000/t (USD12,149/t) EXW D/P and they refuse to sell below the price. However, they quoted in a range of RMB86,000-87,000 (USD11,873-USD12,011) EXW D/P last week. "Our orders cover the output until late May, therefore we increase the quotation for low stock pressure," noted the producer, who also mentioned the increasing prices of raw material. He discloses that they would follow the market price and they currently have no worries about selling.
With an annual production capacity of 3,000t, the producer expects to produce 200t this month. He produced around 200t in March and 2,000t last year. He has no inventory now.
