The Supply And Demand Of V2O5 Flake Continues To Be Deadlocked At the beginning of the week, the stalemate continued in the vanadium market. The retail V2O5 flake quotations are still around 122,000-125,000 CNY/Ton in cash, and most holders remain reluctant to sell; however, the downstream still maintains a wait-and-see attitude, mostly tentative inquiries, low willingness to take orders at high prices, and some purchase intentions may still within 121,000 CNY/Ton in cash.

This week, Pangang’s vanadium alloy quotations slightly increased again: vanadium-nitrogen alloy is 186,000 CNY/Ton, ferrovanadium is 132,000 CNY/Ton (both by acceptance with tax); major manufacturers’ quotations remained strong, and most alloy manufacturers were reluctant to ship at low prices supported by production costs. Vanadium-nitrogen alloy is mainly quoted at 182,000-183,000 CNY/Ton in cash today, and steel mills’ bidding are still 182,000-184,000 CNY/Ton (by acceptance); there are fewer transactions in the retail market, and traders remain cautious in trading. The quotation of ferrovanadium remained stable at 128,000-132,000 CNY/Ton in cash, and some manufacturers suspended their quotations to wait and see the market due to rising raw materials but weak demand.
With the expected tight supply of V2O5 flake, vanadium product transactions are temporarily running steadily; in the short term, we need to continue to pay attention to changes in V2O5 flake supply and steel mills’ bidding.