Over the past week China's special alloys market has in general trended in an upward direction. In particular, ferromolybdenum prices have continued to rise significantly due to short supplies in the market while ferrovanadium prices have gradually recovered.
Product name | Specification | Place of origin | Price (RMB/mt) | Weekly change (RMB/mt) | Price ($/mt) | Weekly change ($/mt) |
Ferromolybdenum | Mo60 | Jinzhou | 136,000 | 3,000 | 20,089 | +443 |
Ferrovanadium | V50 | Panzhihua | 92,500 | 500 | 13,663 | +74 |
Over the past week China's domestic ferromolybdenum market has continued to trend upward. The mainstream quotations in the market are at RMB 134,000-137,000/mt ($19,794-20,236/mt), up another RMB 3,000/mt ($443/mt) week on week, while market quotations for domestic origin molybdenum concentrate (45 percent grade) are currently at RMB 2,050-2,100/mtu ($303-310/mtu), up RMB 50/mtu ($7/mtu) week on week. International ferromolybdenum prices have also increased, with the current prices of bottled molybdenum oxide at $14.9-15.1/lb and with the European delivery prices of 60 percent Mo at $38.5-40.5/kg Mo.
Over the past week China's ferromolybdenum market has continued its significant upward trend, with transactions of molybdenum concentrate and ferromolybdenum having both increased. Due to the production cutbacks by most molybdenum concentrate producers caused by the rainstorm in Luanchuan, Henan in the previous period, the resulting shortage of supplies in the domestic molybdenum concentrate market may drive the price of ferromolybdenum to a higher level.
On the other hand, the Chinese ferrovanadium market has recovered slightly during the past week. Domestic quotations of ferrovanadium (50 percent) are now in the range of RMB 91,000-93,000/mt ($13,442-13,717/mt), up RMB 500-1,000/mt ($74-148/mt), with vanadium pentoxide (98 percent flakes) standing at RMB 84,000-85,000/mt ($12,408-12,538/mt), with the lower end up slightly week on week. Meanwhile, in the international market, quotations of vanadium pentoxide (98 percent flakes) are at $6.5-7.1/lb, while market quotations of ferrovanadium (V70-80) are at €26.5-28/kg.
Over the past week, China's ferrovanadium market has trended from stable to slightly upward, while strong expectations for price increases prevail in the market. Currently, ferrovanadium producers' prices have generally increased to over RMB 90,000/mt ($13,294/mt), with more inquires coming from traders. On the raw material side, it is at present very difficult to find vanadium pentoxide prices below RMB 84,000/mt ($12,408/mt). It is expected that China's ferrovanadium market will continue to follow a stable to upward trend.