Large Plants Have Cleared Their Stock to Keep Vanadium Nitrogen Market Stable and The Decline in Vanadium Prices Has Slowed Down The upstream and downstream of vanadium market have adjusted their offer with reference to large plants’ offer. From the market quotation, the offer of three large vanadium plants has a great influence on the market. The acceptance price of ferrovanadium manufacturers is about CNY 132,000/t and the cash price is about CNY 128,000/t, if this quotation is converted into the current vanadium price, there will be a profit margin. The market price of vanadium-nitrogen alloy is also lower than the guiding price of Panzhihua Steel. It costs about CNY 185,000/t to produce vanadium-nitrogen alloy for vanadium pentoxide flake of CNY 120,000/t. And there will still be space for negotiation if the factories’ offer is CNY 190,000/t, while the cash price for retailing goods is about CNY 185,000/t.

At the end of this month, during the period of concentrating steel bidding, the trend of vanadium price is slightly more optimistic than that of last month. On the one hand, vanadium-nitrogen alloy downward space is compressed compared with last month, vanadium-nitrogen factories are actively controlling inventory this month, and also, there are large plants who price raw materials in advance; On the other hand, at the end of April, vanadium price went down, and steel mills’ procurement decreased slightly. In addition, vanadium price has advantages over ferroniobium price, and it is expected that steel mills’ procurement volume will increase at the end of may.