RE:RE:Largo taking advantage of its commercial independeceThey have to be related to Largo since Largo is the main (only?) exporter from Brazil.
Based on the last CC Q&As it seems that any number reported in relation to Brazil corresponds to Largo. Ernest Cleave "... the public records of imports into China in September showed that China imported a total of 1,300 tonnes of vanadium products out of which
580 came from Brazil, so from us"
These are the numbers reported for September:
| September | |
| Origin | QTY (KG) |
| South Korea | 100000 |
| Thailand | 40000 |
| South Africa | 379998 |
| Russian Federation | 220000 |
| Brazil | 580,000 |
| The USA | 5 |
| Total | 1,320,003 |
Link:
V2O2 Imports by country September 2020 Another side of this activity is the actual price reported on these sites vs what Largo is taking home.
At this point I do not want to speculate since not all the relevant numbers have been published....based on Q3 CC it seems that Largo is getting a better price than what is reportd in these sites.
For example we know that Largo reported revenues of $5.37/lbs in Q3. this price was achieved by taking advantage of sales to China (this would bring the average up, assuming that these sales were at a better price than sales to other areas). but if you look at reportd sales for July and September (august is missing/I do not have access to the numbers) you see that the reported amount for Brazil is not as high as you would expect for the average to go up...
For July:
Imports in July I think this translates into $5.18/lbs
August: I do not have the numbers
For September:
this is $5.4/lbs
For comparison purposes:
Oct:
v2o5-imports-by-countries-in-oct-2020 $5.41/lbs
Nov:
v2o5-imports-by-countries-in-nov-2020 $5.38/lbs