Vanadium Weekly Review During 24-28 July, 2023

www.ferroalloynet.com: Vanadium market is going with steady this week. Firstly, the overall market price was stable in the early week with the new round of steel bidding although it also was declining a bit. Then cheered by the positive macro policy on real estate, V2O5 flake market prices rebounded a bit and companies also become encouraged which also pushed the market. And cheered by the positive macro policy and active steel bidding in the early August, it is forecasted that the overall vanadium market next week will strengthen a bit.

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

3rd July

One steel mill in Fujian

VN16

163,900

30

Cash with tax

4th July

Yunnan Chenggang

VN16

163,600

30

Cash with tax

4th July

One steel mill in Liaoning

V77N16

168,000

75

Acceptance with tax

4th July

One steel mill in Liaoning

V77N16

168,000

75

Acceptance with tax

4th July

JISCO Yuzhong Iron & Steel

V77N16

167,500

30

Acceptance with tax

4th July

One steel mill in Shandong

VN16

163,800

60

Cash with tax

5th July

Anhui Changjiang Steel

VN16

165,000

90

Acceptance with tax

6th July

Shougang Tonggang

VN16

164,570

15

Cash with tax

6th July

Shaogang

Steel

VN16

165,000

190

Acceptance with tax

7th July

Shougang Changzhi

VN 16

164,200

20

Acceptance with tax

7th July

Zenith Steel Group

VN16

164,000

75

Acceptance with tax

7th July

One steel mill in Hunan

VN16

165,000

20

Acceptance with tax

7th July

One steel mill in Jiangsu

FeV50

115,100

60

Acceptance with tax; including bidding service fee

10th July

Shaogang

FeV50

114,500

64

Acceptance with tax

12th July

EGANG

FeV50

114,500

20

Acceptance with tax

12th July

Minyuan Iron & Steel

V77N16

159,000

20

Cash with tax

13th July

One steel mill in Shandong(Rizhao)

FeV50

117,500

30

Acceptance with tax

13th July

One steel mill in Shandong(headquarters)

FeV50

115,500

30

Cash with tax

13th July

Wugang Xiangyang

FeV50

115,300

10

Acceptance with tax

13th July

One steel mill in Henan

FeV50

112,600

10

Cash with tax

13th July

One steel mill in Hebei

VN16

165,300

35

Acceptance with tax

13th July

One steel mill in Shandong

VN16

162,000

60

Cash with tax

13th July

Kunming Iron & Steel(Anning Base)

VN16

163,500

20

Cash 60% +6 month bank acceptance 20% +6 month commercial acceptance 20%

14th July

Shougang Changzhi

VN16

163,450

20

Acceptance with tax

14th July

JISCO Yuzhong Iron & Steel

V77N16

167,000

30

Acceptance with tax

14th July

One steel mill in Henan

FeV50

115,000

20

Acceptance with tax

18th July

One steel mill in Hunan

FeV50

114,000

30

Acceptance with tax

18th July

One steel mill in Hebei

V75N16

160,000

160

Cash with tax

18th July

One steel mill in East China

FeV50

115,200

20

Acceptance with tax

19th July

One steel mill in Southwest

FeV50

114,500

33

Acceptance with tax

19th July

One steel mill in Shandong

VN16

162,000

60

Cash with tax

20th July

Hubei Jin Shenglan

VN16

160,000

20

Cash with tax

21st July

Yunnan Chenggang

VN16

159,900

30

Cash with tax

24th July

One steel mill in Shandong

VN16

162,000

150

Cash with tax

25th July

Anhui Changjiang

VN16

162,000

60

Acceptance with tax

26th July

Minyuan Iron & Steel

V77N16

159,800

20

Cash with tax

26th July

Shougang Changzhi

FeV50

119,000

10

Acceptance with tax

27th July

2. China vanadium market overview

Ammonium metavanadate market
This week, ammonium metavanadate market stays stable with the price standing at 100,000-101,000 CNY/T by cash with tax. Recently there is not any positive or negative news for the market. As far as downstream buyers are concerned, it is not easy to purchase ammonium metavanadate at low prices but have to get goods at high prices, and the market trading atmosphere is normal.
V2O5 Market
The market for V2O5 flake also stands still with the price at105,500-106,000 CNY/T by cash with tax. At the beginning of the week, the recruitment of vanadium nitrogen alloy from steel mills was stable although it was still weak, and the support of terminal alloys was weakened. Affected by this, the intended purchase price of VN alloy factories decreased, and the transaction price fell by 500 CNY/T. In the middle of the week, as the alloy market remained stable and inquiries from traders increased, some V2O5 flake producers insisted the quotations, which made the price returning to the level at the beginning of the week.
Ferro-Vanadium Market
The ferrovanadium market also goes flat this week with the mainstream prices at 114,00-116,000 CNY/T by acceptance with tax. The key reason for this price steady is that the raw materials market is relatively going stable. And on the other hand, there is no obvious benefit on the demand side, and the push up of ferrovanadium prices is a little weak. However, the producers also would not like to reduce the prices which put the market into the dilemma.
Vanadium Nitrogen Market
This week, the vanadium nitride alloy market doesn’t get any improvement with the prices edging down to 161,000-163,000 CNY/T by cash with tax, a small drop of 1,000 CNY/T a week. A new round of steel bidding kicked off at the beginning of the week while steel mills still purchased at low prices. In the middle of the week, the positive macro policy on the newest round of optimization in China’s real estate policy was expected to inject fresh energy into economic recovery, coupled with the quotations of V2O5 flake rebounded slightly, the confidence of vanadium enterprises was boosted. And the quotations of VN alloy factories became firmer, the low-priced resources decreased, and the market atmosphere became stronger.
3. Vanadium worldwide market review
On July 26, European ferrovanadium price was 31.6-33.01 (up 0.35) USD/Kg V, equivalent to the price of ferrovanadium50 about 112,700-117,700 CNY/Ton; European vanadium pentoxide was 7.5-8.76 USD/Lb, equivalent to vanadium pentoxide98% about 115,500-134,900 CNY/Ton; U.S. ferrovanadium was 16-16.5 USD/Lb V, equivalent to the price of ferrovanadium50 about 125,800-129,700 CNY/Ton.
4. Forecast on next week
FerroAlloyNet is expected that the overall vanadium market next week may edge up slightly. It is expected that the new round of steel bidding in the early month may become active and the raw material cost may stay firm as Tranvic mentioned that they may insist the long-term order price at 108,000 CNY/T delivery by A/P and 106,500 by cash with tax. With this strong cost, the overall quotation from VN alloy may not reduce and which put the steel bidding to be hard to go with lower prices. However, the overall supply remains to be overdue at present which makes the overall price may not get dramatically growth.
www.ferroalloynet.com

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to receive daily Vanadium price and news

This will close in 0 seconds