| Company | Furnace model | Capacity | Running furnace | Output in May (ton) | Rank |
| Pangang Group Xichang Steel&Vanadium Co., Ltd | electric furnace | 1500 | 2 | 1400 | 1 |
| Pangang Group Vanadium Titanium & Resources Co., Ltd. Panzhihua Vanadium Products Factory | electric furnace | 800 | 2 | 680 | 2 |
| HBIS Chengde Vanadium Titanium New Material Co. Ltd. | electric furnace | 700 | 2 | 420 | 3 |
| Jinzhou Xinwanbo Metal Material Co. Ltd. | Outfurnace(6) and electric furnace(1) | 600 | 1 | 350 | 4 |
| Yingkou Shengdong Refractory Material Co. Ltd. | Outfurnace | 250 | 1 | 100 | 5 |
| Henan Aokuang Industrial Co., Ltd. | Outfurnace | 100 | 1 | 100 | 5 |
| Jinzhou Xinrong Vanadium Industry Co., Ltd | Outfurnace(10) | 200 | 1 | 80 | 6 |
| Chaoyang Boyuan Metal Industry Co. Ltd. | Outfurnace | 300 | 1 | 80 | 6 |
| Liaoning Xinhua Longdayou Molybdenum Industry Co. Ltd. | Outfurnace | 200 | 1 | 80 | 6 |
| CNMC Ningxia Orient Group Co., Ltd. | Outfurnace and electric furnace(1) | 500 | 1 | 60 | 7 |
| Jinzhou Hongding Metal Co., Ltd. | Outfurnace | 80 | 1 | 50 | 8 |
| Chongyang Zhongrui Mining Co. Ltd. | Outfurnace | 180 | 1 | 50 | 8 |
| Hubei Jingcheng Ferroalloy Co. Ltd. | Outfurnace | 200 | 1 | 50 | 8 |
| Chongyang Qingfeng Technology Co., Ltd. | electric furnace(2) | 200 | 1 | 50 | 8 |
| Liaoning Huatai Metal Co. Ltd. | Outfurnace | 400 | 1 | 40 | 9 |
| Huludao Mingxin Ferroalloy Co. Ltd. | Outfurnace | 0 | 1 | 40 | 9 |
| Rongxin Ferroalloy Co., Ltd. | Outfurnace | 150 | 1 | 30 | 10 |
| Qingshan FerroVanadium Industry and Trade Co. Ltd. | Outfurnace | 300 | 1 | 20 | 11 |
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