Supply Worries In European Vanadium Market Gradually Eased Since the lockdown of South Africa, the price of vanadium in the European market has continued to rise. Since last Friday, the price of V2O5 in Europe began to fall slightly, but the price of ferrovanadium has remained stable for the time being. As of yesterday, the price of ferrovanadium in the European market was 25.5-26.25 USD/KgV, convert into 50# ferrovanadium RMB price was 90,600-93,200 Yuan/ton, temporarily stable. The price of European V2O5 remained at 6.5-7.25 USD/LB V2O5, convert into V2O5 98% RMB price was 99,800-111,300 Yuan/ton; the price of ferrovanadium in United States was 10.50-11.20 USD/LB V, convert into 50# ferrovanadium RMB price was 82,200-87,700 Yuan/ton. Today’s exchange rate is USD: RMB = 7.1046:1.
Novel coronavirus pneumonia outbreak in South Africa will be adjusted from May 1st onwards, according to South African President Cyril Ramaphosa, who made a national television speech on the evening of April 23rd. The fourth level “lockdown order” will be implemented and means that some activity can be allowed to resume subject to extreme precautions required to limit community transmission and outbreaks. The main vanadium plants in South Africa will gradually return to normal production, thus the supply of vanadium in the international market will be relatively relaxed, and the European market will lose the support of supply concerns, and it is expected that the trend will be weak in the later market.