[ferro-alloys.com] Recently, vanadium market is prudent and is in a stalemate,  falling into weak status, the conclusion is weak. Steel mill also purchases prudently, price of bid inviting of vanadium-nitrogen alloy has dropped and quantity of bid inviting of ferrovanadium has reduced. Offer of raw material of platy vanadium pentoxide is still firm and offer of other products are stable tentatively for now. 

Price of bid inviting of vanadium-nitrogen alloy of ZENITH in June is RMB 146,500/MT, acceptance price including VAT, which has dropped compared to the prices of bid inviting in the earlier stage, and the steel mill plans to call for biding of 150 tons, and the actual quantity is not sure because the steel mill wants to reduce purchasing quantity. Inventory of raw material platy vanadium pentoxide 98% is still not much, the trading price of the enterprises still maintains at RMB 96,000/MT acceptance price including VAT, they do not want to reduce the offer, however, demand of purchasing vanadium pentoxid has reduced and the market appears in a price no market.

The concluded price of Ferrovanadium is at RMB 98,000 to 99,000/mt, acceptance price including VAT. According to the cost of platy vanadium pentoxide 98% of RMB 96,000, the concluded prices of vanadium-nitrogen alloy and Ferrovanadium are in a upside-down status. Price of vanadium locates at a higher level, many purchasers put off the purchasing plans. Under the conditions of production being in a upside-down status and weak demand of the downstream, the producers feel more pressure.

International prices of vanadium are tentatively stable, price of European Ferrovanadium ≥75% is at 25.8-26.4 USD/kg vanadium, price of platy vanadium pentoxide 98% is at 5.25-5.4 USD/pound vanadium oxygen. June 9, the concluded price of London Metal Exchange, price of Ferrovanadium 70%-80% was 11.85-12.25$/lb.

It is expected that vanadium market in China will continue to be cold this week and continue to be weak and in a stalemate mainly. 

• [Editor:Wang Linyan]