Vanadium Weekly Market Overview During 24-28 August 2020
www.ferroalloynet.com: This week, the prices of vanadium products fell to varying degrees. Due to the weak bidding of VN alloy of some steel mills, the purchasing enthusiasm of bulk cargo market is not high. The wait-and-see mood of downstream alloy factories is enhanced, and the trading atmosphere in vanadium market is weak. The sales of largeV2O5 flake plants was not smooth, and the price of bulk cargo was reduced to 101000-101500 yuan/ton in cash with tax, and the price of metallurgical grade ammonium metavanadate was adjusted to 95000-96000 yuan/ton. Ferrovanadium bidding price fell slightly. The inquiry activity of VN alloy is not high, some traders purchase based on their orders, the transaction price is 160000-162000 yuan / ton in cash with tax. Overall, vanadium companies are pessimistic and focus on steel plant’s bidding next week.
1. Summary of Vanadium Bidding in August 2020
|
Company |
Products |
Price ( CNY/T) |
Quantity ( Ton) |
Remarks |
Date |
|
A Steel Mill in Shandong |
VN16 |
167500 |
180 |
Acceptance with Tax |
Aug 3rd |
|
A Steel Mill in Fujian |
VN16 |
165800 |
80 |
Cash with Tax |
Aug 3rd |
|
Shaoguan Steel |
VN16 |
167200 |
80 |
Acceptance with Tax |
Aug 4th |
|
Shougang Changzhi |
FeV50 |
107940 |
10 |
Acceptance with Tax |
Aug 4th |
|
A Steel Mill in Hebei |
VN16 |
167000 |
80 |
Acceptance with Tax |
Aug 4th |
|
A Steel Mill in Shandong |
FeV50 |
108700 |
40 |
Acceptance with Tax |
Aug 5th |
|
Nanjing Steel |
FeV50 |
108300 |
60 |
Acceptance with Tax, including bidding service fee |
Aug 5th |
|
ZENITH |
VN16 |
166500 |
180 |
Acceptance with Tax |
Aug 6th |
|
JISCO |
VN16 |
167000 |
90 |
Acceptance with Tax |
Aug 7th |
|
JISCO Yuzhong |
VN16 |
167500 |
60 |
Acceptance with Tax |
Aug 7th |
|
JISCO |
FeV50 |
109800 |
30 |
Acceptance with Tax |
Aug 7th |
|
Anhui Changjiang |
VN16 |
166500 |
110 |
Acceptance with Tax |
Aug 7th |
|
Nanjing Steel |
VN16 |
168500 |
60 |
Acceptance with Tax, including bidding service fee |
Aug 7th |
|
Shougang Changzhi |
FeV50 |
108950 |
10 |
Acceptance with Tax |
Aug 10th |
|
Shougang Changzhi |
VN16 |
168450 |
30 |
Acceptance with Tax |
Aug 10th |
|
Echeng Steel |
VN16 |
168000 |
20 |
Acceptance with Tax |
Aug 11th |
|
Xiangtan Steel |
VN16 |
168000 |
30 |
Acceptance with Tax |
Aug 11th |
|
Shaoguan Steel |
VN16 |
167200 |
80 |
Acceptance with Tax |
Aug 17th |
|
Shaoguan Steel |
FeV50 |
108000 |
10 |
Acceptance with Tax |
Aug 17th |
|
Benxi Steel |
VN16 |
167500 |
30 |
Acceptance with Tax |
Aug 20th |
| Nanjing Steel | FeV50 | 106800 | 60 | Acceptance with Tax, including bidding service fee | Aug 25th |
2. China vanadium market overview
Ammonium metavanadate market
This week, the price of ammonium metavanadate fell slightly, at the beginning of the week, the downstream alloy plants mainly wait and see, the transaction of metallurgical ammonium metavanadate is not much. With the gradual decline of domestic V2O5 flake price, metallurgical ammonium metavanadate passively followed the drop of 2000 yuan / ton. As of Friday, the intended purchasing price of alloy plant was mostly at 95000-96000 yuan / ton including tax in cash. Chemical grade ammonium metavanadate 98% is relatively stable, and the transaction price this week remains about 98000-99000 yuan / ton including tax in cash, which is stable in the short term.
Vanadium pentoxide market
This week, the price of V2O5 flake dropped from 103000 yuan / ton in cash at the beginning of the week to 101000 yuan / ton. The overall trading atmosphere of the market was weak. On the one hand, because the alloy plants have stocks; on the other hand, this week, the bidding market of VN alloy was not clear, and the manufacturers continued to wait and see, and some manufacturers were more cautious in purchasing. The price of V2O5 flake in bulk market decreased, and the price of large factories kept at 107000 yuan / ton by acceptance(105500 yuan / ton in cash including tax), and the order signing was not smooth.
Ferrovanadium market
This week, the transaction of ferrovanadium continued to be weak. At the beginning of the week, the purchase price of 50 ferrovanadium from Nanjing Iron and Steel Co., Ltd. is 106800 yuan / ton (including bidding fee), which was 1500 yuan / ton lower than that of the previous bidding. The transaction price is 105000-106000 yuan / ton in cash with tax in bulk market. Most of the ferrovanadium plants have no orders this week and are still out of production.
Vanadium-nitrogen alloy market
This week, VN alloy decreased slightly, and the bidding price was reduced to 163000-165000 yuan/ton by acceptance with tax, 3000-4000 yuan / ton lower than the previous round. The bulk market inquiry is general, some traders reduce the price of purchase, and the transaction price fell to 160000-162000 yuan / ton in cash with tax. On the whole, most manufacturers have a strong wait-and-see mood and pay attention to the bidding prices of several representative steel mills next week.
3. Vanadium worldwide market review
On 26 August, the price of ferrovanadium maintained at 24.8-25.3 USD/KgV, convert into 50# ferrovanadium RMB price was 85,700-87,400 Yuan/ton. The price of European V2O5 was 5.1-5.6 USD/LB V2O5, convert into V2O5 98% RMB price was 76,100-83,600 Yuan/ton; the price of ferrovanadium in United States was 9.8-10.7 USD/LB V, convert into 50# ferrovanadium RMB price was 74,600-81,500 Yuan/ton.
4. Forecast on next week
Next week, the bidding of VN alloy is relatively concentrated, and the bidding price of several representative steel mills is expected to be released one after another, which is also quite instructive for the market, and the attention of upstream and downstream of vanadium market is high. As the consumption of downstream steel mills has decreased recently, and the supply of domestic vanadium pentoxide has increased greatly, the situation of strong supply and weak demand is obvious. In the short term, the vanadium price may be weak with a narrow adjustment.
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