www.ferroalloynet.com: According to incomplete statistics of ferroalloynet, the output of V2O5 in the vanadium market in March 2020 is about 8960 tons, including 8440 tons of V2O5 flake, 520 tons of vanadium powder, 2860 tons of ferrovanadium and 4845 tons of vanadium nitrogen alloy.
| Serial number | Product | Conversion rate | Output | Converted output |
| 1 | V2O5 powder →VN | 1:1/1.42 | — | 0.00 |
| 2 | V2O5 flake→VN | 1:1/1.42 | — | 0.00 |
| 3 | V2O5 flake→Ferrovanadium | 1:1 | — | 0.00 |
| 4 | FeV50→V2O5 flake | 1:1 | 2070 | 2070 |
| 5 | FeV80→V2O5 flake | 1.6:1 | 790 | 1264 |
| 6 | VN→V2O5 flake | 1:1.416 | 4845 | 6860 |
According to the calculation in the figure, the output of FEV is 2860 tons, of which the output of FEV80 is about 790 tons, the total amount of V2O5 flake should be about 3334 tons, the consumption of 4845 tons of vanadium nitrogen alloy to V2O5 is about 6860 tons, and the consumption of FEV and VN alloy to V2O5 is about 10194 tons. In March, the export volume of the international market is estimated to be about 300 tons, and the volume of imported vanadium, ferrovanadium and vanadium nitrogen alloy ordered in the early stage is estimated to be about 600 tons when they arrive at the port in February. The total market consumption is about 10494 tons, and the market gap is about 934 tons. In March, some vanadium-nitrogen alloy manufacturers relied on the previous stocks to produce vanadium-nitrogen alloy. The actual demand for V2O5 flakes may be biased. At the end of the month, the stocks of V2O5 flakes in bulk market is tight, while large factories have many stocks.
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