The Domestic Vanadium Market Is In Weak Operation This Week week, the domestic vanadium market remains weak, with slightly different performance of upstream and downstream market. The price fluctuation is not large, and the market is in a stalemate status. This week, the domestic stable-price products  are ammonium metavanadate and V2O5, with strong market demand and low supply, so the market remains stable for a period of time. Factors such as weak ferrovanadium market, poor terminal demand and low-cost supply competition lead to gradual price concession and small drop in ferrovanadium market, and manufacturers stop production. At the beginning of this week, compared with last week, the market price of VN alloy was slightly increased, and the subsequent steel bidding was basically stable within this range, but the manufacturers who jointly support the price still insist on maintaining the high price.

The price of ammonium metavanadate and V2O5 flake has been in a stable state since the Dragon Boat Festival. The supply and demand of ammonium metavanadate have been weak, and the inquiry in the market of V2O5 flake is gradually light, but the transaction price does not change much after all. At present, 98% metallurgical grade ammonium metavanadate market transaction price is still around 98000 yuan / ton, chemical grade is about 99000-100000 yuan / ton. Some manufacturers quote 101000 yuan / ton, not easy to deal, and the inquiry of V2O5 flake market is light after centralized steel bidding. V2O5 flake in large factories are still popular in the market. However, bulk goods are transacted at low price to compete. The market price of V2O5 flake is maintained at 105000-105500 yuan / ton by cash this week.

This week, the price of ferrovanadium fell again under the influence of low bidding price. The bulk market lacked confidence and products were sold at a low price. The overall market weakness was obvious. However, after the manufacturers stopped production, the bulk market did not tend to quote lower prices, which alleviated manufacturers’ stress. In the short term, ferrovanadium price will maintain a weak and stable trend, but there is little room for reduction. At present, the transaction price of ferrovanadium in the market is 103000-104000yuan / ton by cash. There is a small amount of low price for some bulk goods. The market is waiting for the spot goods to gradually consume.

Although the centralized steel bidding has passed, some steel mills are still continuing bidding, so the VN alloy manufacturers are still continuing keeping the high price. According to our understanding, some steel mills have received the lowest offer of 167500 yuan / ton, and most of the quotations are between 168000-170000 yuan / ton. The competition between steel mills and VN plants continues. It is expected that most of the mainstream manufacturers will still insist on bidding, and the quotation will pull out the gap with bulk cargo. In the middle of the month, the procurement will be light, and the price of VN alloy will continue to rise, and some traders will quote low prices. The VN alloy market will be slightly chaotic.