Steel Mills’ Bidding Continue To Be Under Pressure, And V2O5 Flake Price Continues To Fall In terms of vanadium raw materials: retail V2O5 flake prices continue to decline, mainstream transactions are around 120,000-121,000 CNY/Ton in cash; actual market transactions are not many, mainly based on rigid demand; most downstream inquiries are based, and the wait-and-see attitude is relatively strong. Due to the significant reduction in the output of large V2O5 flake factories and the implementation of the Winter Olympics, the production of V2O5 flake in Chengde and other areas may still be affected. The supply of V2O5 flake in December is still expected to be tight, so some holders also expressed they are not planned to ship at low prices. The downstream continued to fall, high-priced transactions for ammonium metavanadate were weak, and some manufacturers make shipments at lower prices, the mainstream transactions were 115,000-117,000 CNY/Ton in cash; due to the recent high production costs of ammonium metavanadate, there are not many low-priced sources in the market for the time being.

Vanadium-nitrogen alloy: The downward trend of vanadium-nitrogen alloy steel recruitment has continued, and steel mills have continued to keep prices down; mainstream transaction prices are around 182,000-185,000 CNY/Ton (by acceptance with tax). Although V2O5 flake prices continue to drop, vanadium-nitrogen alloys have fallen at a faster rate. At present, most manufacturers said that the production pressure is deepening, and some said that they do not plan to ship products below 182,000 CNY/Ton in cash; they are also cautious about raw material procurement.
Ferrovanadium: The price of V2O5 flake has fallen, and the cost support is weak; coupled with the fact that downstream demand remains weak, there are fewer new orders in the market and the bidding price of steel mill is low, the transaction price of ferrovanadium has declined slightly, and the transaction is around 127,000-131,000 CNY/Ton (by acceptance); Manufacturers in Jinzhou area mostly quoted at 130,000-132,000 CNY/Ton in cash.