Vanadium Market Weekly Overview During 16-20 August, 2021
www.ferroalloynet.com: The vanadium market price stays steady after it drops in early week, which falls down by 3000-8000 CNY/T. At the early time of this week, the steel bidding price for vanadium nitrogen alloy concludes at 171,000 CNY/T by acceptance with tax, which discourages the market as it drops dramatically. And the vanadium materials market price also gets affection on the transaction for the shrinking price on VN alloy. In the middle of this week, the big producers on vanadium pentoxide flake disclose that they will insist the long-term price at 132,000 CNY/t by acceptance and the new steel bidding price also increases, which pushes on the vanadium nitrogen alloy prices. Besides, other vanadium prices also stay stable benefited from this good news. And it is forecasted that the overall vanadium market may stay stable with upward but steel bidding still is the key factor to the prices.
1. Summary of Vanadium Biddiding in August
|
Company
|
Products |
Price ( CNY/Ton) |
Quantity ( Ton) |
Basis |
Date |
|
Shougang Changzhi |
VN16 |
190,650 |
20 |
Acceptance with tax |
August 4th |
|
Xinxing Ductile Iron Pipe Co.,ltd. |
FeV |
139,000 |
8 |
Cash with tax |
August 4th |
|
One Steel in Liaoning |
FeV50 |
137,200 |
30 |
Acceptance with tax |
August 5th |
|
Nanjing Steel |
VN16 |
189,800 |
60 |
Acceptance with tax, including the tender fee |
August 9th |
|
Nanjing Steel |
FeV 50 |
136,800 |
60 |
Acceptance with tax, including the tender fee |
August 9th |
|
Anhui Changjiang Steel |
VN16 |
189,500 |
80 |
Acceptance with tax |
August 9th |
|
One Steel in Shandong |
FeV 50 |
139,000 |
33 |
Acceptance with tax |
August 11th |
|
Shougang Changzhi |
VN16 |
182,800 |
20 |
Acceptance with tax |
August 11th |
|
Jiangsu Binxin Iron & Steel |
VN16 |
182,500 |
140 |
Cash with tax |
August 11th |
|
One Steel mill in Shandong |
VN16 |
186,000 |
110 |
Acceptance with tax |
August 11th |
|
One Steel mill in Shandong |
VN16 |
198,000-200,000 |
190 |
Acceptance with tax |
August 11th |
|
Yangchun Steel
|
VN16 |
180,000 |
60 |
Acceptance with tax |
August 13th |
|
Xinyu Iron & Steel
|
FeV50 |
134,000 |
30 |
Acceptance with tax |
August 16th |
|
Minyuan Iron & Steel
|
VN16 |
173,000 |
30 |
Cash with tax |
August 16th |
|
Shaogang Steel |
VN16 |
171,000 |
90 |
Acceptance with tax |
August 17th |
|
One Steel mill in Liaoning
|
VN16 |
178,000 |
60 |
Acceptance with tax |
August 18th |
Ammonium metavanadate market
This week ammonium metavanadate 98% fall first and then stabilized, with a weekly decline of about 2500 CNY/T. At the beginning of the week, suppressed by the decline in the price of vanadium nitrogen alloy, the transaction of ammonium metavanadate was difficult. The procurement from VN alloy plants slowed down and there were few inquiries. Some chemical enterprises just needed to hold down the price to get the goods according to their real demands. But it had to actively make concessions to promote the transaction. At present, the vanadium market is in a stalemate and wait-and-see state, the downstream continues to wait and see the steel bidding, the enthusiasm for raw material procurement is not high, and the upstream can only wait passively.
V2O5 Market
This week, retail vanadium pentoxide flake falls from 124000-125000 CNY/T to 119000-12000 CNY/T including tax by cash. At the middle of the week, the big producers for vanadium pentoxide flake insist the long-term price at 130000 CNY/T by cash with tax, which supports the market. The vanadium market stopped falling and stabilized. The low-cost resources of retail vanadium pentoxide flake are in short with few transactions. After the large-scale manufacturers support the price, it is still unknown whether the subsequent bidding price of vanadium nitrogen alloy from steel can rebound significantly. Therefore, the downstream and alloy plants still maintain a wait-and-see attitude. Although the inquiry has increased, the actual procurement is still hesitant and cautious.
Regarding for chemical vanadium pentoxide flake market, it still keeps sluggish with few deals. And the prices for chemical V2O5 powder 98-99% decline by 1500-2500 CNY/T as the buyers are pessimistic toward the future market.
Ferro-Vanadium Market
This week, FeV 50% slips by 3,000 CNY/ton, from 136,000-138,000 CNY/ton to 133,000-135,000 CNY/ton with tax by acceptance. The key reason for this decline of ferrovanadium price is mainly for that terminal demand for vanadium is not strong, and the other is driven by the decline of raw material price. After the large factories held up their prices in the middle of the week, the ferrovanadium market stopped falling and stabilized, and the manufacturers’ quotation was relatively firm. They prefer to wait and see the progress of subsequent steel bidding.
Vanadium Nitrogen Market
This week, steel tender price of VN alloy is 171,000 CNY/T by acceptance with tax. This dropping bidding prices discourage some traders to reduce their quotations to 171,000-172,000 CNY/t by cash with tax and many producers also are pessimistic toward the current market. At the middle of the week, V2O5 flake big producers announced to insist the prices at 132,000 CNY/T by acceptance with tax and the steel bidding prices for VN alloy also rebounded to 178,000 CNY/T by acceptance with tax, which encouraged the companies to raise the offer to 175,000-182,000 CNY/T by cash. Although there are few deals in bulk market, many companies are unwilling to reduce the price and prefer to wait the next week steel bidding price.
3. Vanadium worldwide market review
On 18 August 2021, the price of ferrovanadium in Europe drops to 39.5-40.7 USD/kg V, convert into 50# ferrovanadium RMB price was 128,100-132,100 CNY/Ton. The price of European V2O5 was 9.5-9.8USD/Lb V2O5, convert into V2O5 98% RMB price was 133,300-137,400 CNY/Ton. The price of ferrovanadium in United States was 17.25-17.5 USD/Lb V, convert into 50# ferrovanadium RMB price was 123,500-125,200 CNY/Ton.
4. Forecast on next week
This week, the large vanadium pentoxide flake plants have decided to maintain the stability of the long-term price in late August and September at 132,000 CNY/T by acceptance including tax (130,000 CNY/T by cash), which played a slightly prominent role in supporting the price. Today, the quotations of most vanadium nitrogen alloy manufacturers have increased slightly. Although there are not any transactions follow-up at present, the vanadium nitrogen price may rebound next week in the face of steel plant bidding, and the quotations of most manufacturers are relatively strong. However, the specific adjustment range depends on whether the demand of steel mills can keep up.
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