www.ferroalloynet.com: With the bidding price of vanadium-nitrogen alloy relatively stable at around CNY 195,000/t by acceptance, the quotation of traders have begun to stabilize. The spot transaction price is CNY 193,000-195,000/t by cash, and the price decline has slowed down significantly. The purchase price of 50 # ferrovanadium is about CNY 135,000/t by acceptance, while the quotation of Panzhihua ferrovanadium is CNY 140,000/t by acceptance. The spot quotation of traders has remained stable in the past three days, with a tax-inclusive price of CNY 135,000/t by cash, making it difficult to make deals.
With the decline of vanadium price slowing down, traders have started to make positive inquiries and purchase a small amount of low-priced spot. As the price of downstream alloy plants is higher than the spot price, the price of vanadium-nitrogen alloy is CNY 197,000-200,000/t, and that of ferrovanadium is CNY 135,000-140,000/t, traders are reluctant to purchase high-priced futures. Therefore, they continue to pay attention to the steel bidding prices and they will purchase again when vanadium prices become stable.
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