Ferro-vanadium drops down
2005-04-14 10:02:00 【Print】
BEIJING (Asian Metal) 14 Apr 05 – The Chinese ferro-vanadium market began to slip this week, with concluded prices around RMB390,000/t, although some major suppliers quote as high as RMB420,000-430,000/t.
“We quote a price of RMB400,000/t for our 9t of ferro-vanadium 50%min in stock,” a salesman from a Sichuan-based smelter told Asian Metal. “But since early last week, we have not sold out the material.” The source believes that a price of RMB390,000/t might be workable in view of current market conditions.
According to an official from a smelter in North China, “I think current workable prices for ferro-vanadium 50%min remain at RMB380,000-390,000/t, although some major producers quote high ones at RMB420,000-430,000/t, for the great shortage of buyers' interest.”
A sales manager from a Hunan-based smelter told Asian Metal, “We sold a batch of 50% ferro-vanadium at RMB390,000/t early last week”. A week ago, the smelter halted for maintenance and plans to restart next week.
According to the source, the price of vanadium pentoxide in the local market is only at RMB340,000-350,000/t now, down from RMB350,000-360,000/t last weekend.
Industry insiders believe that the ferro-vanadium market will continue to soften in the coming weeks, and market participants are watching and waiting.
