www.ferroalloynet.com: The price of downstream and upstream vanadium products in China dropped in varying degrees this week. Among them, the price of vanadium-nitrogen alloy fell faster. As of today, vanadium-nitrogen alloy price fell by about CNY 20,000/t compared with that in the beginning of the week. Currently, the ex-factory quotation is CNY 210,000-215,000/t by cash, and a small part of the bulk transaction price falls below CNY 210,000/t. The bulk quotation in the ferrovanadium market has also continued to concede. The bulk quotation of 50# ferrovanadium is CNY 138,000-142,000/t. The light transaction and the cost pressure lead to the low production enthusiasm of ferrovanadium manufacturers, and also affect the enthusiasm of raw materials procurement by vanadium-nitrogen alloy plants. Therefore, the offer of ammonium metavanadate, V2O5 flake and V2O5 powder from small factories keeps declining.
At present, the domestic vanadium market is still in a strong downward trend, showing an unbalanced state of supply over demand in the short term, which makes the market in the stalemate and difficult to stabilize. It is expected that the downturn will continue, waiting for the boost of terminal demand to promote the balance between supply and demand.
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