www.ferroalloynet.com: With the recent downward pressure on the domestic vanadium market, the bidding price of VN alloy steel fell below 130000 yuan / ton at the opening of the market on Monday, down to 128000 yuan / ton by acceptance with tax. The upstream and downstream vanadium enterprises are pessimistic about the later market. The domestic supply of vanadium products exceeds the demand, and the steel mills have great efforts to reduce purchasing prices. Alloy plants are facing the pressure of cost upside down at any time. Some manufacturers plan to shut down the furnace for maintenance or stop production for heat preservation next month, so the production will slow down and the inventory pressure will be reduced. At present, some VN alloy manufacturers have high or low stocks, with high inventory of 120-160 tons and low inventory of 30-50 tons. The cost of raw materials was high in the early stage. However, the inquiry price of VN alloy is low currently, so manufacturers are not willing to sell at a loss and wait for the market to recover.
The price of alloys has been falling continuously, and the general direction of V2O5 flake has been moving in the same direction, but the decline is not large. Yesterday, the quoted price of V2O5 flake by retailers was 82000-83000 yuan / ton by cash with tax, which is still difficult to deal with at a low range. Some alloy factories have directly reduced the purchasing price to 80000-81000 yuan / ton by cash with tax, resulting in a deadlock in the transaction between the two parties, and the market transaction atmosphere is relatively low. At present, there is no adjustment for the quotation of V2O5 flake in large factories, and some of them are have stocks and wait for the tender of steel plants at the end of the month.