[ferro-alloys.com] At the beginning of this week, offers of Vanadium products are stable. Main acceptance offer of 98% Vanadium Pent Oxide ranges from RMB 83,000 to RMB 86,000/MT; main acceptance offer of Ferro Vanadium 50% ranges from RMB 9,000 to 9,1000/MT; main acceptance offer of Vanadium-Nitrogen Alloy (VN16) ranges from RMB 128,000 to 132,000/MT. At the aspect of bidding of steel mill, price of VN16 that was called for bids by Anhui steel mill was RMB 126,000/MT (acceptance price including VAT); price of VN16 of MA Steel was RMB 126,400 /MT (acceptance price including VAT); price of Ferro Vanadium of MA Steel was RMB 887,000 /MT (acceptance price including VAT). Because offer of Vanadium Pent Oxide locates at a higher position, but the bidding price of Vanadium-Nitrogen Alloy of steel mill is relatively lower, so that the cost and price of production of vanadium-nitrogen alloy are difficult to balance that the price is in a upside-down state, the stalemate market is difficult to relieve, and most enterprises are still waiting and seeing the future market. Besides, suffering from the two meetings, part steel mill in north district stops or reduces the production, demand for Vanadium products has slightly reduction in a certain degree in a short time, which increases more uncertainty to the direction of Vanadium market.

• [Editor:Wang Linyan]