China's domestic FeV market continues its dull performance with most players holding a pessimistic view. 50 FeV is quoted at CNY 97,000 to 100,000 per tonne and traded at CNY 95,000 to CNY 96,000 per tonne.
Given the weak steel market, the FeV market can hardly walk out of its current sluggish operation and is expected to fall further.
Actual transaction prices of the material has declined to CNY 93,000 per tonne spurring a widely-held pessimistic view. It is still unclear whether the FeV price will dive below CNY 90,000 per tonne to the lowest level in this April. Unfavourable factors include falling the steel market, sufficient FeV supply and weak demand, and thin transactions in international markets.
Source: Steel Guru
Showing posts with label ferrovanadium. Show all posts
Showing posts with label ferrovanadium. Show all posts
Thursday, October 15, 2009
Saturday, September 26, 2009
Ferrovanadium Prices Slip
Ferrovanadium spot prices have dropped $1.45/lb to $11.80 in just two weeks, possibly an indication that production of high-strength steels and tool steels is about to soften and push the alloying metal's price down again.
The alloying metal was selling as low as $7.40/lb in April because of a serious overhang of inventory and collapsed demand from specialty steelmakers. Prices inched back up from May to August in line with reduced stockpiles caused by expanded exports and slow and gradual improvement in purchases by the domestic steel companies.
However, transaction prices have turned south as "the market has been as flat as a pancake in the U.S. for the past five or six weeks," a producer tells AMM.com. With regards to purchasing by specialty steelmakers, "just nothing is happening."
Some traders believe that the market price will fall again soon. One trader has been telling the press that "the reality is market much weaker than the trade journals have been reporting." Yet another says that "the U.S. market is pretty thin on demand at the moment."
Source: Purchasing.com
The alloying metal was selling as low as $7.40/lb in April because of a serious overhang of inventory and collapsed demand from specialty steelmakers. Prices inched back up from May to August in line with reduced stockpiles caused by expanded exports and slow and gradual improvement in purchases by the domestic steel companies.
However, transaction prices have turned south as "the market has been as flat as a pancake in the U.S. for the past five or six weeks," a producer tells AMM.com. With regards to purchasing by specialty steelmakers, "just nothing is happening."
Some traders believe that the market price will fall again soon. One trader has been telling the press that "the reality is market much weaker than the trade journals have been reporting." Yet another says that "the U.S. market is pretty thin on demand at the moment."
Source: Purchasing.com
Saturday, May 23, 2009
Chinese Ferrovanadium Prices Rise
According to industry sources, prices of Chinese ferrovanadium of 50% grade firmed this week at CNY 96,000 to 98,000 per tonne as compared with CNY 80,000 per tonne in April.
While some traders in Asia attributed the rise in domestic prices to increased Chinese demand, others said it was the result of market speculation with people talking up the market and few deals actually being done.
Offers for ferrovanadium (80% grade) from Europe to China have been in the range of USD 19.20 to USD 19.50 per kilogram on a CIF basis up from USD 18.50 to USD 19 per kilogram earlier in May.
One China based trader said recent spot deals were settled around USD 19.50 per kilogram CIF China. He said that "We had imported some vanadium pentoxide [the raw material to produce ferrovanadium] from the US recently at USD 4.45 to 4.50/lb. And I have received spot offers from the US at around USD 5 /lb prices are going up due to more purchases from China.”
A source close to Chinese producers said that "This [the rise in domestic prices] is more to do with fund speculation. More people are looking to export to China, but there has been a lack of deals reported. Demand in China is not showing a significant rebound. Domestic prices in China remain higher than prices in the international market therefore Chinese are not willing to export."
Meanwhile, in Japan, spot ferrovanadium trade was poor this week.
One Tokyo-based trader said there had been no buyers and sellers in the spot market. He added that "We have received some inquiries from Europe around USD 19 per kilogram while we can't find sellers below USD 20 per kilogram."
Another trader in Japan said that "We haven't done any business at all in the last couples of weeks. Offer prices are below USD 19.50 per kilogram.”
One South Korean trader said ferrovanadium was sold from Europe to South Korea at USD 19.50 per kilogram CIF Korea, but he had not conducted any spot deal this week.
Source: Steel Guru
While some traders in Asia attributed the rise in domestic prices to increased Chinese demand, others said it was the result of market speculation with people talking up the market and few deals actually being done.
Offers for ferrovanadium (80% grade) from Europe to China have been in the range of USD 19.20 to USD 19.50 per kilogram on a CIF basis up from USD 18.50 to USD 19 per kilogram earlier in May.
One China based trader said recent spot deals were settled around USD 19.50 per kilogram CIF China. He said that "We had imported some vanadium pentoxide [the raw material to produce ferrovanadium] from the US recently at USD 4.45 to 4.50/lb. And I have received spot offers from the US at around USD 5 /lb prices are going up due to more purchases from China.”
A source close to Chinese producers said that "This [the rise in domestic prices] is more to do with fund speculation. More people are looking to export to China, but there has been a lack of deals reported. Demand in China is not showing a significant rebound. Domestic prices in China remain higher than prices in the international market therefore Chinese are not willing to export."
Meanwhile, in Japan, spot ferrovanadium trade was poor this week.
One Tokyo-based trader said there had been no buyers and sellers in the spot market. He added that "We have received some inquiries from Europe around USD 19 per kilogram while we can't find sellers below USD 20 per kilogram."
Another trader in Japan said that "We haven't done any business at all in the last couples of weeks. Offer prices are below USD 19.50 per kilogram.”
One South Korean trader said ferrovanadium was sold from Europe to South Korea at USD 19.50 per kilogram CIF Korea, but he had not conducted any spot deal this week.
Source: Steel Guru
Wednesday, March 18, 2009
Freewest Drills Into Good Grade Vanadium
Freewest Resources of Montreal has drilled an occurrence of near-surface vanadium oxide mineralization at its Dalhousie Mountain property 60 km southeast of Matagami. Core assayed 0.58% V2O5 over 30.53 metres, 0.67% V2O5 over 12.94 metres and 0.64% V2O5 over 24.00 metres.
Previous work done on the property by Freewest identified an area of vanadium mineralization approximately 1.8 km by 0.3 km with intermittent outcrops. The best assay so far was 1.27% V2O5 from a blasted sample of an outcrop. The company reports that grid work exposed iron oxide mineralization containing vanadium as well as associated chalcopyrite and pyrrhotite hosted within gabbroic and pyroxenitic rocks. Bulldozer stripping and a ground magnetic survey have been completed.
Vanadium is a strategic metal used mainly in the production of high-quality metal alloys. Added to steel, ferrovanadium produces high-strength steel suitable for natural gas pipelines, surgical instruments, jet engines and construction. About 90% of the vanadium mined is used in alloys. The remaining 10% is used as an additive and catalyst in the chemical industry or used as in alloys of titanium in the aerospace industry. Almost all of the world's vanadium production comes from South Africa, China and Russia.
Source: Canadian Mining News
Previous work done on the property by Freewest identified an area of vanadium mineralization approximately 1.8 km by 0.3 km with intermittent outcrops. The best assay so far was 1.27% V2O5 from a blasted sample of an outcrop. The company reports that grid work exposed iron oxide mineralization containing vanadium as well as associated chalcopyrite and pyrrhotite hosted within gabbroic and pyroxenitic rocks. Bulldozer stripping and a ground magnetic survey have been completed.
Vanadium is a strategic metal used mainly in the production of high-quality metal alloys. Added to steel, ferrovanadium produces high-strength steel suitable for natural gas pipelines, surgical instruments, jet engines and construction. About 90% of the vanadium mined is used in alloys. The remaining 10% is used as an additive and catalyst in the chemical industry or used as in alloys of titanium in the aerospace industry. Almost all of the world's vanadium production comes from South Africa, China and Russia.
Source: Canadian Mining News
Wednesday, February 18, 2009
Receivers Called In At Windimurra Vanadium Mine
Hundreds of jobs at the Windimurra vanadium mine development in the mid-west of Western Australia A's are to go after the appointment of administrators and receivers.
The mine was set to start producing ferrovanadium this year but announced at the end of last year that it needed an extra A$81 million for construction labour and fixed costs.
``There's over 400 contractors on site, they're being wound down and demobilised from the site because construction needs to be put on hold while this assessment occurs,'' administrator Darren Weaver of Ferrier Hodgson said today.
``Ultimately the decision is in the hands of the receivers.''
Korda Mentha receiver Brian McMaster said the mine would be placed on effective care and maintenance while contractors were redeployed.
The future of the company's 50 workers was still uncertain.
"We're just working through with them at the moment what the best course of action is and we've sort of agreed that ... we'll have a result by next week,'' Mr McMaster said. ``Sixty contractors left yesterday, we're thinking about 130 will come off today and then after that we're down to a core of people who are more or less required to keep everything on care and maintenance. We'll work through over the next couple of days whether any more of those need to come out or not.''
The company announced in its December quarter activities report that it had $71 million in cash at the end of 2008 but was taking steps to conserve cash.
However, its financial report for the same quarter stated cash reserves at quarter's end totalled $114 million.
Mr Weaver said all options are still open and the mine may still be viable.
``We're working pretty closely with the receivers to make sure that we can preserve all the recapitalisation options as one of the potential outcomes,'' Mr Weaver said.
``Given that the project is 90 per cent complete ... and given there is a defined amount of monies that need to be reinvested in order to complete it ... there is an ability where a (recapitalisation) might work in this situation.
``The secured creditors are going to be very focused on their returns ... but there's also a lot of interest in the project.
``At this stage I think that all the options are open.''
Source: Perth Now
The mine was set to start producing ferrovanadium this year but announced at the end of last year that it needed an extra A$81 million for construction labour and fixed costs.
``There's over 400 contractors on site, they're being wound down and demobilised from the site because construction needs to be put on hold while this assessment occurs,'' administrator Darren Weaver of Ferrier Hodgson said today.
``Ultimately the decision is in the hands of the receivers.''
Korda Mentha receiver Brian McMaster said the mine would be placed on effective care and maintenance while contractors were redeployed.
The future of the company's 50 workers was still uncertain.
"We're just working through with them at the moment what the best course of action is and we've sort of agreed that ... we'll have a result by next week,'' Mr McMaster said. ``Sixty contractors left yesterday, we're thinking about 130 will come off today and then after that we're down to a core of people who are more or less required to keep everything on care and maintenance. We'll work through over the next couple of days whether any more of those need to come out or not.''
The company announced in its December quarter activities report that it had $71 million in cash at the end of 2008 but was taking steps to conserve cash.
However, its financial report for the same quarter stated cash reserves at quarter's end totalled $114 million.
Mr Weaver said all options are still open and the mine may still be viable.
``We're working pretty closely with the receivers to make sure that we can preserve all the recapitalisation options as one of the potential outcomes,'' Mr Weaver said.
``Given that the project is 90 per cent complete ... and given there is a defined amount of monies that need to be reinvested in order to complete it ... there is an ability where a (recapitalisation) might work in this situation.
``The secured creditors are going to be very focused on their returns ... but there's also a lot of interest in the project.
``At this stage I think that all the options are open.''
Source: Perth Now
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