[Ferro-Alloys.com] Chinese FeV price kept steady amid sluggish demand of steel mills. Reportedly, some mills pressed tender price of FeV owing to overhauling equipment and decreasing output. Steel mills indicated limited tender volumes, biding at RMB79,000/mt (USD12,950/mt, export duty excluded) by acceptance. European FeV edged up, while American FeV steadied.

 

FeV50, FeV80, vanadium pent oxide and vanadium nitrogen alloy price stood at RMB79,000/mt (USD12,950/mt, export duty excluded), RMB128,000/mt (USD20,983/mt, export duty excluded), RMB69,000/mt （USD11,311/mt, export duty excluded) and RMB117,000/mt (USD19,180/mt, export duty excluded) by acceptance.

 

FeV quotation was concentrated on RMB79,000-80,000/mt (USD12,950-13,114/mt, export duty excluded) by acceptance. In the second quarter, there were no signs of recovery for FeV, as buying volumes of mills didn’t increase much. Chinese vanadium pent oxide transacted at RMB69,000-70,000/mt (USD11,311-11,475/mt, export duty excluded) by acceptance, but deals were slim. Downstream processors declined the demand for vanadium pent oxide due to partial operation rate. Vanadium nitrogen alloy transacted at RMB117,000/mt (USD19,180/mt, export duty excluded) by acceptance, unchanged from last week.

 

European FeV rose to USD25.4-25.8/kgV. Source said that downstream steel mills enhanced output, thereby strengthening demand for raw materials. FeV transaction price improved to USD25.4/kgV, far lower than USD30/kgV last March. Vanadium pent oxide traded at USD5.4-5.5/lb.

 

Chinese FeV price would keep steady, as the demand of downstream mills is limited. European FeV might move up with increased tenders.

 

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