Chinese FeV50 rose again, following its raw materials. In addition, the operation rate of steel improved compared with July and early August, but FeV50 price trended higher, steel mills wanted to restock materials at current price. Reportedly, steel mills bought FeV50 at RMB83,000/mt (USD13,606/mt, export duty excluded), and small volumes could be transacted at RMB84,000/mt (USD13,770/mt, export duty excluded). Traders become active in the market, as deals were profitable.
A Shaanxi FeV50 supplier offered RMB84,000/mt (USD13,770/mt, export duty excluded) for FeV50, and sold hundreds of tons with old customer. Without too much inventory, they were reluctant to sell out, and expected offer to rise a bit.