Asian ferrovanadium market remains slow
2006-06-28 13:34:00 【Print】
BEIJING (Asian Metal) 28 Jun 06 - Asian ferrovanadium market still remains slow now, and few deals have been concluded, with prices around RMB130,000-135,000/t(USD32.5-33.75/kg) and around USD34/kg for ferrovanadium 50% in domestic and export market respectively. Participants believe that it will continue to drop in the coming weeks.
In China, ferrovanadium 50% market still keeps softening these weeks. A Sichuan-based ferrovanadium smelter, with a production capacity of 200tpm of ferrovanadium 50%, who sold several batches of the material for RMB134,000/t(USD33.5/kg) this week believes that ferrovanadium market will continue to move down in the coming weeks.
"I think the price will drop to around RMB100,000/t(USD25/kg) in domestic market and USD25/kg in export market," said the producer. "All things being equal, ferrovanadium 50% price should be around RMB100,000-120,000/t(USD25-30/kg) in the coming weeks." Although most producers now quotes RMB135,000/t(USD33.75/kg) for ferrovanadium 50%, the source thinks some deals may be concluded at RMB130,000/t these days.
The source now quotes USD34/kg for ferrovanadium 50% on export market, but foreign buyers have no interests about the price.
Meanwhile, In Japan, ferrovanadium market also remains extremely slow. A trader who usually purchases about 20tpm of ferrovanadium and 10tpm of ferromolybdenum from China laments that ferrovanadium market remains too sluggish in Japan now. "The demand is weakening now, and some big end-users have already signed long-term contracts with producers," said the producer. "So we made no deal these days."
According to the source, Japanese traders are dealing ferrovanadium 80% for USD37/kg these days, and the source believes that ferrovanadium market will continue to drop in the coming weeks, but the source thinks ferrovanadium price will rebound when it touched USD30/kg.
