International Vanadium Prices Dropped Again and Domestic Vanadium Market is Temporarily Strong According to data released last Friday, European vanadium and vanadium pentoxide prices have declined again, and the price gap with domestic vanadium prices has been widening. European ferrovanadium price has dropped to USD 29(↓2)-31.5(↓0.5)/ kg vanadium, converting to 50# ferrovanadium is about CNY 99,800(↓6,700)-108,400(↓1,500)/t, with a price difference of about CNY 20,000/t of domestic ferrovanadium. The European market price for vanadium pentoxide is about USD 6.2(↓0.3)-6.7(↓1.25)/lb vanadium pentoxide, converting to 98% vanadium pentoxide is about CNY 92,200(↓4,300)-99,600(↓18,400)/t, and the price difference with the domestic market is about CNY 25,000/t. The market price of American ferrovanadium has slightly dropped to USD 16.5(↓1) -17(↓1)/lb.

Compared with the continuous downward international market, the domestic vanadium market operates steadily. At present, the transaction price of bulk V2O5 flake is around CNY 123,000/t in domestic market, while the tax-inclusive price of ammonium metavanadate is CNY 123,000-125,000/t. High-price ammonium metavanadate mainly flows to enterprises that process chemical V2O5 powder. The mainstream price of vanadium-nitrogen alloy is around CNY 188,000/t by cash, while the prices quoted by the manufacturer are mostly CNY 190,000/t. Although the overall trend is strong, it is expected that there will be little room for growth.