www.ferroalloynet.com: According to the data released last Friday evening, the price of European ferrovanadium and vanadium pentoxide drops across the board. The price of ferrovanadium in European market has been lowered to USD 28.4(↓ 0.45)-29.2 (↓ 1.05) / kg vanadium, converting to 50# ferrovanadium is about CNY 100,700(↓ 1,500)-103,500(↓ 3,700)/t. The European market price for vanadium pentoxide edges down to USD 6.45(↓ 1.05)-7.5(↓ 1)/lb vanadium pentoxide, converting to 98% vanadium pentoxide is about CNY 98,800(↓ 1,600)-114,900(↓ 1,520)/t. The price of American ferrovanadium drops to USD 14.35(↓ 0.3)-15(↓ 0.5)/ lb.
According to traders in the European market, the supply of vanadium resources in the international market exceeds the demand. Since 2019, the output of vanadium in the international market has increased to some extent compared with last year, while the demand side is weak. The decline of vanadium price in the international market is difficult to stop, and the trading volume is small. At present, the domestic vanadium market is only supported by the strong price of raw materials. The downstream ferrovanadium and vanadium-nitrogen alloy manufacturers are producing under pressure. Some manufacturers have mentioned that According to the reaction of some manufacturers, this loss market has been nearly a month, if it continues, there may be production reduction and shutdown.
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