Vanadium Weekly Review During 17-21 July, 2023

www.ferroalloynet.com: Vanadium market is declining slight with 500-1500 CNY/T this week. The overall demands from steel were still weak and the overall cost on raw materials also decline which dropped the overall market price. It is forecast that the overall vanadium market may keep slow next week as another round of steel bidding may start.

1. Summary of Vanadium Biddiding in July 2023

Company	Products	Price ( CNY/T)	Quantity ( Ton)	Basis	Date
One steel mill in Xinjiang	FeV50	118,000	30	Acceptance with tax	3^rd July
One steel mill in Fujian	VN16	163,900	30	Cash with tax	4^th July
Yunnan Chenggang	VN16	163,600	30	Cash with tax	4^th July
One steel mill in Liaoning	V77N16	168,000	75	Acceptance with tax	4^th July
One steel mill in Liaoning	V77N16	168,000	75	Acceptance with tax	4^th July
JISCO Yuzhong Iron & Steel	V77N16	167,500	30	Acceptance with tax	4^th July
One steel mill in Shandong	VN16	163,800	60	Cash with tax	5^th July
Anhui Changjiang Steel	VN16	165,000	90	Acceptance with tax	6^th July
Shougang Tonggang	VN16	164,570	15	Cash with tax	6^th July
Shaogang Steel	VN16	165,000	190	Acceptance with tax	7^th July
Shougang Changzhi	VN 16	164,200	20	Acceptance with tax	7^th July
Zenith Steel Group	VN16	164,000	75	Acceptance with tax	7^th July
One steel mill in Hunan	VN16	165,000	20	Acceptance with tax	7^th July
One steel mill in Jiangsu	FeV50	115,100	60	Acceptance with tax; including bidding service fee	10^th July
Shaogang	FeV50	114,500	64	Acceptance with tax	12^th July
EGANG	FeV50	114,500	20	Acceptance with tax	12^th July
Minyuan Iron & Steel	V77N16	159,000	20	Cash with tax	13^th July
One steel mill in Shandong(Rizhao)	FeV50	117,500	30	Acceptance with tax	13^th July
One steel mill in Shandong(headquarters)	FeV50	115,500	30	Cash with tax	13^th July
Wugang Xiangyang	FeV50	115,300	10	Acceptance with tax	13^th July
One steel mill in Henan	FeV50	112,600	10	Cash with tax	13^th July
One steel mill in Hebei	VN16	165,300	35	Acceptance with tax	13^th July
One steel mill in Shandong	VN16	162,000	60	Cash with tax	13^th July
Kunming Iron & Steel(Anning Base)	VN16	163,500	20	Cash 60% +6 month bank acceptance 20% +6 month commercial acceptance 20%	14^th July
Shougang Changzhi	VN16	163,450	20	Acceptance with tax	14^th July
JISCO Yuzhong Iron & Steel	V77N16	167,000	30	Acceptance with tax	14^th July
One steel mill in Henan	FeV50	115,000	20	Acceptance with tax	18^th July
One steel mill in Hunan	FeV50	114,000	30	Acceptance with tax	18^th July
One steel mill in Hebei	V75N16	160,000	160	Cash with tax	18^th July
One steel mill in East China	FeV50	115,200	20	Acceptance with tax	19^th July
One steel mill in Southwest	FeV50	114,500	33	Acceptance with tax	19^th July
One steel mill in Shandong	VN16	162,000	60	Cash with tax	20^th July

2. China vanadium market overview

Ammonium metavanadate market

This week, ammonium metavanadate price doesn’t hold on by declining 1000 CNY/T from 101,000-102,000 CNY/T by cash with tax. The key season for this price dropping is the vanadium nitride alloy market prices soft with steel bidding prices for VN alloy edgeing down. And retail V2O5 flake market prices also slip which also discouraged some ammonium metavadate companies.

V2O5 Market

The price for V2O5 flake goes down by 500 CNY/T to 105,500-106,000 CNY/T by cash with tax. As the VN alloy prices weaken and the supply is stable on V2O5 flake which put some producers inactive to sell. And the expectation purchasing prices for V2O5 flake also concentrates on 105,500 CNY/T by cash with tax.

Ferro-Vanadium Market

The ferrovanadium market price this week slips by 500 CNY/T to 114,000-116,000 CN/t delivery by acceptance with tax. First, the cost support has weakened as raw material prices have dropped slightly, and the quotation of ferrovanadium is also slightly declining. Second, steel mills have low acceptance of high prices, preferring to delay purchases, and the transaction is deadlocked.

Vanadium Nitrogen Market

This week, the vanadium nitride alloy market price edges down by 1500 CNY/T, reaching to 162,000-164,000 CNY/T by acceptance with tax. In the mid-to-late ten days, the demand for vanadium-nitrogen alloys has weakened, traders have fewer inquiries, and it is not easy to trade at high levels. Some manufacturers are more willing to make price concessions, and their quotations are loose.

3. Vanadium worldwide market review

On July 19, European ferrovanadium price was 32-32.76 (down 0.7) USD/Kg V, equivalent to the price of ferrovanadium50 about 115,600-118,400 CNY/Ton; European vanadium pentoxide was 7.5-8.76 USD/Lb, equivalent to vanadium pentoxide98% about 117,100-136,800 CNY/Ton; U.S. ferrovanadium was 16-17 USD/Lb V, equivalent to the price of ferrovanadium 50 about 127,500-135,400 CNY/Ton.

3. Forecast on next week

FerroAlloyNet is expected that the overall vanadium market next week may keep steady with the price of V2O5 flake at 105,500 CNY/T by cash with tax. Next week, a new round of steel recruitment will be launched gradually which may support the demand of vanadium. In addition, vanadium pentoxide flake holders are reluctant to sell at low prices, in line with the recent increase in inquiries from traders; it is still not easy to purchase raw materials at low prices. With this high cost, the overall vanadium market may keep stable next.

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