This week, the transaction of vanadium products declined slightly by 1,000-4,000 yuan/ton. Bidding from vanadium alloy steels continued after the holiday, but medium and large steel mills had exerted great efforts to lower prices for vanadium-nitrogen alloys and ferrovanadium which made vanadium alloy steel tender is under pressure. Vanadium-nitrogen alloy price fell to 136,000-137,000/ton delivery by A/P, and price of ferrovanadium fell to 100,000-101,000/ton delivery by A/P. Due to the production cost deficit, alloy factories’ decreased their expectation to purchase V2O5 Flake. But retailers’ purchase remained at a high price of 90,000 Yuan/ton by cash with high production cost. On Friday, the pricing of long-term orders by major manufacturers for October remained at 92,000/ton by cash, but the long-term cooperated alloy factories were not very interested in taking over the order. The current imbalance between supply and demand in the vanadium market remains unchanged, and the overall transaction volume continues to be low.
1. Summary of Vanadium Bidding in October 2023
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