Vanadium Market Weekly Overview During 15-18 June, 2021
www.ferroalloynet.com: This week the overall vanadium market is a bit strong with the price rising. Affected by the enhancing European price on ferrovanadium and vanadium pentoxide, shrinking production from V2O5 flake big companies and the steady supply-demand balance, many vanadium companies are optimistic toward the future and are active to suspend offer or increase the offer as high as 128000-130000 CNY/T by cash for V2O5 flake 98%. Following the arising V2O5 flake price, VN alloy producers also are active increase their quotations which has reached to 186000 CNY/T by cash. The price for ferrovanadium 50# also lifts by 3000 CNY/t TO 134000 CNY/T by cash.
1. Summary of Vanadium Biddiding in May
|
Company |
Products |
Price ( CNY/Ton) |
Quantity ( Ton) |
Basis |
Date |
|
Kunming Steel |
VN16 | 181,700 | 20 | Cash 60% + Acceptance 40% |
11 Jun |
|
Kunming Steel |
VN16 | 181,700 | 40 | Cash 60% + Acceptance 40% |
11 Jun |
|
Echeng Steel |
VN16 | 183,000 | 40 | Acceptance with tax |
11 Jun |
|
Benxi Steel |
VN16 | 181,500 | 30 | Acceptance with tax |
1 June |
|
One Steel Mill in East China |
VN16 | 181,500 | 45 | Cash with tax |
2 June |
|
One Steel in Shandong |
FeV50 | 130,500-130,900 | 45 | Acceptance with tax |
3 June |
|
One Steel in Shandong |
VN16 | 181,500-182,000 | 190 | Acceptance with tax |
3 June |
|
Anhui Changjiang Steel |
VN16 | 182,000 | 130 | Acceptance with tax |
18 June |
|
Shougang Changzhi |
VN16 | 184,850 | 20 | Acceptance with tax |
9 June |
|
Nanjing Steel |
FeV50 | 131,000 | 30 | Acceptance with tax, including the tender fee |
9 June |
|
Nanjing Steel |
VN16 | 186,000 | 60 | Acceptance with tax |
9 June |
|
Guangxi Shenglong |
VN16 | 181,000 | 100 | Cash with tax |
9 June |
|
Xingyang Steel |
VN16 | 185,000 | 30 | Acceptance with tax |
10 June |
|
Shaogang Steel |
VN16 | 184,800 | 90 | Acceptance with tax |
10 June |
|
One steel in Hebei |
VN16 | 183,000 | 60 | Acceptance with tax |
10 June |
|
Benxi Steel |
VN16 | 182,400 | 60 | Acceptance with tax |
10 June |
|
Kunming Steel |
VN16 | 185,900 | 10 | Cash 60% + Acceptance 40% |
10 June |
2. China vanadium market overview
Ammonium metavanadate market
This week, the price for ammonium metavanadate metallurgical 98% increases by 3000 CNY/T. Owing to the swelling price on V2O5 flake, many ammonium metavanadate companies also increase the offer or suspend quotation to wait for the price going up. Right now the price for metallurgical AMV 98% concludes at 118000-119000 CNY/T by cash, with few higher price at 120000 CNY/t by cash.
V2O5 Market
This week, the V2O5 flake bulk price increases by 3000 -4000 CNY/t taking the deal price to 125000-128000 CNY/T by cash. According to FerroAlloyNet, the production for V2O5 flake in June is shrinking, among which Tranvic and Desheng are more obvious. Tranvic is expected to produce 850 tons V2O5 flake and the production from Desheng is about 550-600 tons. The total output of the two companies is expected to decrease by 450-550 compared with the previous month. Jianlong is relatively stable, with an estimated output of 1,560 tons. Sichuan Dazhou Iron and Steel resumes production at around 600 tons in June, an increase of 300 tons from that last month. Pangang Steel and Chengde Steel’s production are much stable, with which Panzhihua Iron and Steel is expected to produce 3,400 tons, and Chengde Steel is expected to produce 1,400 tons. With the shrinking production from these companies, some VN alloy companies are active to inquiry which pushes the V2O5 flake market as well. Under this condition, some V2O5 flake retail traders are more hesitate to sell or insist the price which makes the deal price to 125000-128000 CNY/T. Regarding for V2O5 powder, the price is increasing with the high cost of raw material and this high price also makes some companies prefer to buy without tax.
Ferro-Vanadium Market
The price for ferrovanadium 50# soars by 3000 CNY/T. At the beginning of the week, major manufacturers took the lead in raising the weekly guide price to 135000 CNY/T by cash. Due to the shortage supply from major manufacturers and the reluctance to sell, some traders quoted prices to 138000 CNY/T by cash. Besides, for the accelerated rise of vanadium, the quotations of small ferro-vanadium plants have been adjusted upwards to 134000 – 138000 CNY/T by cash. There are few steel bids and traders have little room to buy at high prices, so there are few transactions.
Vanadium Nitrogen Market
This week, vanadium nitrogen alloys price are lifting by 3000 CNY/T affected by the good price on V2O5 flake. Right now some companies who have few spot stocks for vanadium nitrogen just suspend the price or push the price to 192000 CNY/T. We have few steel bidding for vanadium nitrogen this week and the price is rapidly increasing to 188000-190000 CNY/T. However, many VN alloy producers are still unwilling to supply with this high price and the steel bidding price next week is a bit expected.
3. Vanadium worldwide market review
On 16 June 2021, the price of ferrovanadium in Europe drops to 39.5-40 USD/kg V, convert into 50# ferrovanadium RMB price was 126600-128200 CNY/Ton. The price of European V2O5 was 8.5-9 USD/Lb V2O5, convert into V2O5 98% RMB price was 117700-124600 CNY/Ton. The price of ferrovanadium in United States was 16.5-17 USD/Lb V, convert into 50# ferrovanadium RMB price was 116500-120100 CNY/Ton.
4. Forecast on next week
The bullish atmosphere of vanadium market reluctance to sell will continue until next week. Holders will not rush to sell goods with the optimistic factors. On the one hand, they will wait for vanadium manufacturers to further adjust prices to support the market. On the other hand, they will wait and see the situation of steel recruitment. Therefore, FerroAlloyNet predicts that the overall atmosphere of the vanadium market will continue to grow stronger next week while the overall increasing rate may slightly slow.
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