[Ferro-Alloys.com] Chinese FeV was offered at RMB79,000-80,000/mt (USD12,950-13,114/mt, export duty excluded) by acceptance. In late September, the output of steel mills increased from August, so tender volume and price of mills followed to rise. Major steel mills will successively tender FeV50, transacting at RMB79,000/mt (USD12,950/mt, export duty excluded) by acceptance. Overseas FeV price kept steady.

FeV50, FeV80, vanadium pent oxide and vanadium nitrogen alloy price stood at RMB80,000/mt (USD13,114/mt, export duty excluded), RMB125,000/mt (USD20,491/mt, export duty excluded), RMB69,000/mt （USD11,311/mt, export duty excluded) and RMB116,000/mt (USD19,016/mt, export duty excluded) by acceptance.

A Shaanxi FeV supplier offered RMB80,000/mt (USD13,114/mt, export duty excluded) by acceptance for FeV50, and transaction volume was nice. Owing to the upcoming tenders of mills at the end of month, they rejected to sell low-priced materials. Chinese vanadium pent oxide was offered at RMB69,000/mt (USD11,311/mt, export duty excluded) by acceptance, but the entire deals were slim. Downstream V alloy suppliers had little interest in buying raw materials amid sluggish market. Vanadium pent oxide suppliers processed FeV themselves, instead of selling low-priced materials. Vanadium nitrogen alloy was offered at RMB116,000-117,000/mt(USD19,016-19,180/mt, export duty excluded) by acceptance, but the real transaction price was RMB115,000/mt (USD18,852/mt, export duty excluded) by acceptance. Under the condition of supply surplus, steel mills pressed bids. Vanadium nitrogen alloy suppliers made loss, and the transaction volumes shrank.

European FeV transacted at USD25.2-25.9/kgV. Its price drop rate slowed, and is expected to linger as the demand didn’t improve much. Exporters offered USD25-25.5/kgV and USD5.4-5.5/lb for FeV and vanadium pent oxide respectively.

It is expected that FeV50 would lose upward momentum as real demand is still sluggish.

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• [Editor:Mango]