Vanadium Market Overview During 24-28 May 2021

www.ferroalloynet.com: This week the overall vanadiumwww.ferroalloynet.com market stays steady with few adjustment and the transactions for vanadium alloy are mainly from steel tenders. The bulk market for vanadium is stalemate with few deals concluded. In early week, cheered by the rising guide price from Pangang Group, some large V2O5 producers settle the long term order price in June at 120000 CNY/T with tax by acceptance. But the high deal price from VN alloy is few and mostly deals prices stay steady. The tender price for VN alloy increases a bit to 182000-183000 CNY/T by acceptance with tax and that price for FeV 50 increases to 128000-130000 CNY/T by acceptance with tax. However, the overall inquires are not active for the offers from manufacturers are a bit high.

1. Summary of Vanadium Biddiding in May

2. China vanadium market overview

Ammonium metavanadate market

This week, ammonium metavanadate 98% metallurgical increases slightly to 112000-115000 by cash with tax though it slightly slip at the end of week. Manufacturers’ offers are relatively steady which puts the inquires to be less with the quotation price at 115000 CNY/Ton by cash. The chemical industries have slowed down the purchasing which pulls down the chemical grade vanadium pentoxide deals and this also make the AMV purchasing slip.

V2O5 Market

This week, some V2O5 flake producers have settled down their June price at 120000 CNY/T by acceptance with tax. The inquiries for V2O5 flake from traders are still active but the real purchasing intention price is declining from 121000-120000 CNY/Ton by cash. Though some producers try to insist the quotation price, the overall offer is slightly declining to 120500-121000 CNY/T by cash with real deal price at 120000-120500 CNY/T by cash.

The price of chemical grade V2O5 powder has not yet been adjusted this week. Although the price of raw material ammonium metavanadate continued to rise slightly and the quotations of chemical grade V2O5 powder manufacturers followed up, the transaction was not satisfactory and the follow-up deals was lagging behind. Some end users instead to purchase other low-priced resources for the high V2O5 powder prices, and which slow down the manufacturers’ producing enthusiastic.

Ferro-Vanadium Market

The deal price for ferrovanadium this week is increasing to 126000-129000 CNY/T by acceptance with tax. On Monday, Pangang Group raised its ferrovanadium guide price to 128000 CNY/T by acceptance. And some ferrovanadium producers insist their offer at 128000-130000 CNY/T by cash for the high cost. Some traders offer at the price at 126000-127000 CNY/T by cash with deal price at 125000-126000 CNY/T by cash. However, it is hard to get some profit for this price which makes the trading market to be sluggish.

Vanadium Nitrogen Market

This week, vanadium-nitrogen alloys tender prices surges to 182000-183000 CNY/T by acceptance with quotation prices from manufacturers at 179000-183000 CNY/T by cash. Some traders are active to sell with the price at 179000 CNY/T by cash as well but few deals yet. The overall market for vanadium nitrogen is in deadlocked. The tender price of steel is mainly stable for cost-supported. It is difficult to fall but also hard to strengthen because the raw material procurement of alloy plants is more cautious.

3. Vanadium worldwide market review

On 26 May 2021, the price of ferrovanadium in Europe drops to 37-39.85 USD/kg V, convert into 50# ferrovanadium RMB price was 118600-127700 CNY/Ton. The price of European V2O5 was 7.5-8.5 USD/Lb V2O5, convert into V2O5 98% RMB price was 103900-117700 CNY/Ton. The price of ferrovanadium in United States was 15.75-16.25 USD/Lb V, convert into 50# ferrovanadium RMB price was 111300-114800 CNY/Ton.

4. Forecast on next week

At present, the overall demand for vanadium alloy is steadily strong. And many large factories also increase the V2O5 flake price affected by the arising price on commodities and steel. Next week, large vanadium manufacturers will set their prices in June, which will inevitably increase. With the support of rebar steel that stays at a high level, vanadium prices have risen steadily. We will pay more attention to large manufacturers’ prices next week as well.

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