Laiwu cuts September ferro-vanadium bid price

摘要

Chinese state-controlled steelmaker Laiwu Iron and Steel has reduced its ferro-vanadium tender price for September delivery, given sufficient spot supplies and lower spot prices. The firm purchased 60t of 50pc grade ferro-vanadium at 131,000 yuan/t, or Yn262/kg ($40.59/kg) for contained vanadium, delivered and paid by acceptance bill with valueadded tax (VAT) on 1 September, down by Yn8,000/t from Yn139,000/t in a tender it issued on 11 August.