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
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