With The Sharp Decline Of Bidding Prices, Vanadium Alloys Are Under Pressure
www.ferroalloynet.com: Yesterday, Minyuan Iron and Steel’s vanadium-nitrogen alloy bidding price was 173,000 CNY/Ton (by cash with tax) and the volume was 30 tons; Xinyu Iron and Steel finalized ferrovanadium50 at 134,000 CNY/Ton (by acceptance with tax) and the volume was 30 tons. The bidding pricing of vanadium alloy continued to fall sharply, and the mainstream transaction in the vanadium-nitrogen market fell to 176,000-182,000 CNY/Ton (by acceptance), down 3,000-4,000 CNY/Ton from the previous day. The mainstream transaction of ferrovanadium was 134,000-136,000 CNY/Ton (by acceptance), and the overall transaction continued to decline slightly.
Beginning in July, the reduction in crude steel output has entered a substantive stage of advancement. This month, steel mills reduced their purchases of vanadium alloys, which resulted in greater price reductions. The transaction prices of vanadium alloys are under pressure and major manufacturers have suspended their quotations for three weeks. There are few new orders in the alloy market. Yesterday, many vanadium-nitrogen alloy trading companies give offers at 173,000-174,000 CNY/Ton in cash; there are still few bidding for ferrovanadium, under the pressure of production costs, ferrovanadium manufacturers frequently cut production, and the decline is slightly slower than that of vanadium-nitrogen, but the market transaction volume is small.
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