www.ferroalloynet.com: Influenced by the bidding price of vanadium-nitrogen alloys, both traders and manufacturers have adjusted their quotations accordingly. The mainstream tax-inclusive cash price is around CNY 185,000/t, and some traders intend to sell at a low price of CNY 183,000/t, mostly in spot. Vanadium market is in an awkward situation of selling more and buying less. Buyers are cautious in purchasing at low prices because the market is in a downward trend and the actual transaction is few.
In overall, the enthusiasm of purchasing vanadium alloys by steel mills in June is much weaker than that in May. The transaction volume of terminal vanadium-nitrogen alloy has decreased. Traders and some alloy plants are in stock, and the supply of market resources exceeds the demand. It is inevitable that the price of vanadium alloy steel will decline slightly in recent two days.
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