www.ferroalloynet.com: Steel bids continued to be under pressure, and vanadium nitrogen alloys continued the downward trend. Mainstream transactions fell again by 3,000 CNY/T from the previous day, at around 169,000-170,000 CNY/T by acceptance. The situation of manufacturers being difficult to make transaction at high price while unwilling to sell at low prices has not changed, and today they are still reluctant to offer prices. The price of vanadium nitrogen alloy continues to decline, and some trading companies have lowered their quotations to 166,000-168,000 CNY/T by acceptance in order to promote transactions.
The transaction in the ferrovanadium market remained weak, and actual orders in the market were scarce. The price of V2O5 flake and other raw materials continued to decline, and manufacturers’ quotations were often adjusted according to the market. The mainstream transaction weakened slightly again to 129,000-130,000 CNY/T by acceptance.
The latest price of major V2O5 flake manufacturers in September was 115,000 CNY/T by acceptance, and retail transactions were between 114,000-115,000 CNY/T by cash. The mainstream transaction of ammonium metavanadate also fell to around 109,000-110,000 CNY/T by cash. Although the prices of raw materials have declined, the production cost of vanadium nitrogen alloy is still under pressure, and the enthusiasm for raw material procurement is not high. Ferrovanadium plants are still cautious in raw material procurement.
In September, due to the gradual increase in the overhaul of steel mills and the shrinking profit of rebar, the vanadium market may continue to be weak in the short term.
www.ferroalloynet.com
