Activity has increased in China's special alloys market. With the approach of September, domestic mills' purchases of ferromolybdenum and ferrovanadium have started to rise.
Product name | Specification | Place of origin | Price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
Ferromolybdenum | Mo60 | Jinzhou | 137,000 | +1,000 | 20,147 | +147 |
Ferrovanadium | V50 | Panzhihua | 940 00 | +500 | 13,824 | +74 |
Over the past week China's domestic ferromolybdenum market has shown an upward trend. The mainstream quotations in the market in Jinzhou are at RMB 136,000-138,000/mt ($20,000-20,274/mt), up by around RMB 1,000/mt ($147/mt) week on week, while market quotations for domestic origin molybdenum concentrate (45 percent grade) are currently at RMB 2,000-2,050/mtu ($295-303/mtu), unchanged week on week. International ferromolybdenum prices have continued to increase slightly, with the current prices of bottled molybdenum oxide at $15.75-16.25/lb and with the European delivery prices of 60 percent Mo at $39.75-41/kg Mo.
China's ferromolybdenum market fluctuated slightly in the past week. Impacted by mills' purchases, quotations in some regions increased to some extent. As reported by ferromolybdenum enterprises, inquiries from mills have increased as September draws nearer and there are more transactions in the market compared to the previous period. Currently, purchase prices for large volumes are basically at the level of RMB 134,000-136,000/mt ($19,706-20,000/mt). However, it seems difficult to sustain this price increase trend and the market may start to follow a stable trend when the tight supply situation sees an improvement.
Chinese ferrovanadium prices have maintained their upward trend during the past week. Domestic quotations of ferrovanadium (50 percent) are now in the range of RMB 93,000-95,000/mt ($13,676-14,012/mt), with the lower-end up RMB 1,000/mt ($148/mt), and with vanadium pentoxide (98 percent flakes) standing at RMB 85,000-88,000/mt ($12,555-12,941/mt). Meanwhile, in the international market, quotations of European ferrovanadium are up, with vanadium pentoxide (98 percent flakes) are at $6.5-7.1/lb, while market quotations of ferrovanadium (V70-80) are at €28-30/kg.
China's ferrovanadium market has continued to move up in the past week. Recently, domestic ferrovanadium demand increased with some mills entering the market to conclude purchases. Meanwhile, due to sufficient supplies, domestic steel mills will not raise their prices too much. It has been learned that purchase prices from mills are at RMB 92,000/mt ($13,529/mt). Some ferrovanadium enterprises' retail prices are relatively high, with their quotations reaching RMB 95,000/mt ($14,012/mt). As regards raw materials, market prices of vanadium pentoxide are firm, with offers of some enterprises at about RMB 88,000/mt ($12,941/mt).