European Ferrovanadium Price Is Still Falling According to the latest data yesterday, the price of ferrovanadium in European market keeps declining after a short period of stability. As of yesterday, the transaction price of European ferrovanadium has fallen to USD 24.5(↓0.5)-25(↓1)/kg vanadium, converting to 50# ferrovanadium is about CNY 86,900(↓1,700)-88,700(↓3,500)/t, dropping by 2,600 tons compared with last Wednesday. The European market price for vanadium pentoxide is USD 5.50-6.50/lb vanadium pentoxide, keeping stable, converting to 98% vanadium pentoxide is about CNY 84,300-99,600/t. The price of American ferrovanadium is USD 13.75-14.5/ lb, temporarily stable.

With the domestic vanadium price falling, it is difficult to import at present. According to the current European price, if 50# ferrovanadium is imported to China at the average price in the European market, the RMB price will be about CNY 104,000/t, including tariff and value-added tax. Although there is an advantage in price, it is difficult to consume domestic spot goods. The price of V2O5 is still around CNY 108,500/t including tax, and the price of domestic V2O5 flake has reached CNY 120,000/t. Due to the high grade of vanadium, the final price of imported V2O5 flake is around CNY 110,000/t. With the contraction of the price difference at home and abroad, the advantage of imported vanadium is gradually fading.