During the past week, market prices of special alloys in China maintained their declining trend. Current mainstream quotations for ferrovanadium have dropped below RMB 100,000/mt.
Product name | Specification | Place of origin | Price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
Ferromolybdenum | Mo60 | Jinzhou | 134,000 | -4,000 | 19,648 | -587 |
Ferrovanadium | V50 | Panzhihua | 100,000 | -1,000 | 14,663 | -147 |
During the week in question market prices of ferromolybdenum in China continued to decline. Currently, the mainstream prices of ferromolybdenum in Jinzhou are at RMB 132,000-135,000/mt ($19,355-19,795/mt), down RMB 4,000/mt ($587/mt) while the market prices of molybdenum concentrate (45 percent) are at RMB 1,950-2,000/mtu ($286-293/mtu), down RMB 50-100/mtu (7-15/mtu). Meanwhile, European delivery prices of ferromolybdenum (60 percent Mo) are at $36-38/kg Mo, while prices of bottled molybdenum oxide in this market are at $13.5-14.5/lb.
Over the past week the Chinese ferromolybdenum market has continued its downward trend. Looking at the current market, most steel mills have concluded their purchases for June; some mills's stocks are relatively high and are sufficient to support production for over one and half a months. In recent days, molybdenum steel products in the domestic market have maintained their weak price trend, and demand for ferromolybdenum products has also decreased. In the coming period a declining trend is expected to prevail in the domestic ferromolybdenum market, while the transaction volume is also expected to remain weak.
The Chinese ferrovanadium market has also followed a soft trend during the past week. Domestic quotations of ferrovanadium (50 percent) are now in the range of RMB 99,000-101,000/mt ($14,516-14,809/mt), down RMB 1,000/mt ($147/mt), with vanadium pentoxide (98 percent flakes) standing at RMB 90,000-91,000/mt ($13,196-13,343/mt) down RMB 2,000 ($293/mt). Meanwhile, in the international market, quotations of ferrovanadium are still on the decline, with vanadium pentoxide (98 percent flakes) at $6.9-7.5/lb, while market quotations of ferrovanadium (V70-80) are at €29.5-31/kg.
In the Chinese ferrovanadium market during the week in question, a producer in Jiangasu Province offered RMB 99,000/mt ($14,516/mt) for ferrovanadium (V50), while other quotations from producers and traders for this product gradually dropped below the level of RMB 100,000/mt ($14,663). The actual transaction price of vanadium pentoxide (98 percent flakes) offered by mills has been lower than 90,000/mt ($13,196/mt), and some ferrovanadium mills anticipate a further decrease.