Vanadium Market Weekly Review During 12-16 Apr 2021

www.ferroalloynet.com: This week, low-priced resources of vanadium products have decreased, and quotations have been raised slightly, and transaction prices need to be followed. Retail player’s transaction prices of flake vanadium pentoxide rose slightly. Due to cost pressure, alloy factories’ reluctance to sell is more significant. They raised the quotation or suspended it temporarily in a wait and see mood. The European price for ferrovanadium fell slightly, which is still higher than the domestic price, and short-term imports were still blocked.

1. Summary of Vanadium Biddiding in April

2. China vanadium market overview

Ammonium metavanadate market

Supported by the steady and slight increase in the V2O5 flake market this week, ammonium metavanadate price also rose slightly in steady, and the low-price transactions in the market decreased, and the transactions were shifted to a higher position. In a week, the ammonium metavanadate 98% increased by about 1,000-1,500 CNY/T, and the mainstream transaction price was 104,000-106,000 CNY/T by cash. Manufacturers are reluctant to sell, indicating that the supply of ammonium metavanadate resources is still tight, so the quotations are firm, and some alloy plants actively inquire, but the actual transactions are on the low side.

V2O5 Market

This week, retail V2O5 flake saw a slight increase of 1,000-2,000 CNY/T. Inquiries from downstream alloy factories have gradually increased, and low-price resources in bulk market have decreased. The transaction price has advanced to 111,000-112,000 CNY/T in cash. At the beginning of the week, retail V2O5 flake transaction prices were between high and low, ranging from 110,500-111,500 CNY/T by cash. With the change of mentality at the alloy end and the firmness of raw material manufacturers, retail V2O5 flake quotations increased, and transactions gradually followed with prices rising slightly.

Ferro-Vanadium Market

This week, the ferrovanadium market was running smoothly. The mainstream transaction price is 116,000-119,000 CNY/T by acceptance with tax. The bulk market was neither high nor low. Manufacturers’ quotations were firm, traders were cautious in purchasing, and the operating space was small, making it difficult to make profits. The price of ferrovanadium plants in Jinzhou area is generally no less than 120,000 CNY/T in cash, which is difficult to make a deal. The scattered transactions of bulk products were at a price of 115,000-116,000 CNY/T by cash, and the trading atmosphere was relatively flat.

Vanadium Nitrogen Market

Low-priced resources of vanadium-nitrogen alloys have decreased this week, and manufacturers’ quotations have been raised slightly. The transaction situation remains to be seen. Compared with last week, manufacturers’ quotations have been raised to 167,000-170,000  CNY/T by cash this week, which is also affected by the price of raw materials, and retail prices have increased slightly. The difficulty of purchasing vanadium-nitrogen alloys lower than 166,000 CNY/T by cash is gradually increasing, and traders are reluctant to purchase at high prices. The trading of vanadium-nitrogen alloys is slightly in stalemate, but the low-price supply is obviously reduced.

3. Vanadium worldwide market review

On 14 Apr 2021, the price of ferrovanadium in Europe drops to 32.7-33.5USD/kg V, down by 0.4 USD/kg V, convert into 50# ferrovanadium RMB price was 106900-1095000 CNY/Ton. The price of European V2O5 was 8-8.5 USD/Lb V2O5, convert into V2O5 98% RMB price was 113000-120000 CNY/Ton. The price of ferrovanadium in United States was 16-16.5 USD/Lb V, convert into 50# ferrovanadium RMB price was 115300-118900 CNY/Ton.

4. Forecast on next week

Next week, steel mills will gradually enter the market to purchase, and the activity of inquiries for various vanadium products may gradually increase. Supported by costs, the alloy plants’ quotations are firm, but steel mills’ acceptance may be relatively limited. In the stalemate, vanadium prices are steadily rising and the alloy plants strive for reasonable profits.

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