[Ferro-Alloys.com] After the National Day Holidays, Chinese FeV price kept steady. Before holidays, rebar market showed badly, FeV market couldn’t be sustained greatly. After holidays, FeV buying activities concentrated on scattered deals, transacting at RMB79,000/mt (USD12,950/mt, export duty excluded) by acceptance. European FeV price slipped.

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.

After the National Day holidays, European FeV price slipped, while domestic FeV market was sluggish. Suppliers insisted on offering RMB79,000/mt (USD12,950/mt, export duty excluded) by acceptance for FeV50, despite of getting limited inquiries. Restricted by high cost, FeV producers didn’t have much inventory in hand, so they were unwilling to drop offer. Chinese vanadium pent oxide was offered at RMB69,000-70,000/mt (USD11,311-11,475/mt, export duty excluded). The demand from downstream V alloy suppliers was sluggish, so vanadium pent oxide suppliers produced materials on orders. The entire transaction volumes were slim. Chinese vanadium nitrogen alloy was offered at RMB116,000-117,000/mt (USD19,016-19,180/mt, export duty excluded) by acceptance, and quotations existed difference among suppliers. As mills cut bids, vanadium nitrogen alloy price could drop further.

European FeV transacted at USD24.7-25.1/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 Chinese FeV price would keep steady in the near future. If supply surplus lasts, FeV market will have little momentum to pick up.

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• [Editor:Mango]