Citic Metal lifts Q4 ferro-niobium price due to yuan depreciation

Citic Metal, the exclusive sales agent in China for ferro-niobium from Companhia Brasileira de Metalurgia e Mineração (CBMM), has raised its fourth-quarter price due to the significant volatility of the Chinese currency, market sources told Fastmarkets on Tuesday October 8.

After the latest adjustment, the company’s ferro-niobium price for its fourth-quarter contracts stands at around 205,000-225,000 yuan ($28,674-31,471) per tonne (equivalent to around $44-48 per kg) compared with around 190,000-220,000 yuan per tonne for third-quarter contracts, according to sources. “The dollar price was heard to be relatively stable. The company has to raise its yuan-denominated price given the depreciating yuan, however,” a contact familiar with the issue told Fastmarkets. The yuan was trading at 7.15...

Published

Amy Lv

October 08, 2019

17:21 GMT

Shanghai