www.ferroalloynet.com: Due to the continuous refreshing of low prices in steel bidding, the transaction price of downstream alloy plants has also declined, and the offer of factories is less firm. At present, the offer of ferrovanadium is CNY 123,000-125,000/t, while that of purchasers is below CNY 120,000/t. The price quoted by vanadium-nitrogen alloy factories has also been slightly loosened. The acceptance price has dropped to about CNY 175,000/t by cash. The raw materials stock of CNY 120,000/t is still a heavy burden for them. For raw materials, the vanadium market has less supply and mainstream transaction price is still stable at about CNY 115,000/t. Although ferrovanadium and vanadium-nitrogen plants have vanadium stockpiles, factories will follow the market to purchase low-cost vanadium pentoxide flake due to high cost. As a result, vanadium pentoxide flake market has less supply and difficult price reduction, which has become a decelerator for the decline of vanadium market.
Although vanadium pentoxide flake price has temporarily stabilized the market, with the advent of centralized steel bidding at the end of the month, price reduction by steel mills is still evident, and traders are more difficult to make deals.
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