The domestic vanadium market continued its downward trend this week, with various vanadium products falling by RMB 3,000-8,000/ton. At the beginning of the week, the bidding price of vanadium-nitrogen alloy was the first to fall, and then the transaction price continued to hit new lows. The concerns of downstream alloy manufacturers gradually increased and the market outlook was bearish. Some manufacturers actively reduced the price to sell products to reduce losses. Some manufacturers were reluctant to sell for the time being. Due to the falling alloy prices, downstream alloy factories have significantly slowed down their purchase for raw materials, with fewer inquiries, lower price expectations, and lower prices for actual orders. It is difficult for retails to resist the decline in V2O5 Flake, and prices are lowered every day. While large V2O5 Flake manufacturers are hesitant and have not set prices for a long time. Ammonium metavanadate also fell simultaneously, with a relatively slow decline. Manufacturers were reluctant to sell and were unable to sell goods. Only chemical companies were looking to purchase orders. Raw material prices have fallen, and ferrovanadium quotations have also been adjusted accordingly. Steel bidding prices have dropped significantly, traders have increased stockpiling at low prices, and inquiries have increased. However, large manufacturers have less ferrovanadium resources, and it is difficult to purchase at low prices.
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