[Ferro-Alloys.com] Chinese FeV50 was offered at RMB78,000-79,000/mt (USD12,786-12,950/mt, export duty excluded) by acceptance. In mid-August, steel mills were negative to restock raw materials, with FeV50 transaction price stabilizing at RMB78,000/mt (USD12,786/mt, export duty excluded) by acceptance. Overseas FeV price kept steady.

FeV50, FeV80, vanadium pent oxide and vanadium nitrogen alloy price stood at RMB79,000/mt (USD12,950/mt, export duty excluded), RMB124,000/mt (USD20,327/mt, export duty excluded), RMB69,000/mt （USD11,311/mt, export duty excluded) and RMB116,000/mt (USD19,016/mt, export duty excluded) by acceptance.

Less low-priced raw materials hiked FeV supplier’s cost. Although steel mills pressed FeV tender price, high cost made FeV suppliers firm their offers. Chinese vanadium pent oxide was offered at RMB68,000-69,000/mt (USD11,147-11,311/mt, export duty excluded) by acceptance. Downstream buyers restocked raw materials, so vanadium pent oxide suppliers cut original inventory and improved offer. Vanadium nitrogen alloy was offered at RMB116,000-117,000/mt (USD19,016-19,180/mt, export duty excluded) by acceptance. A Shandong steel mill purchased 100mt vanadium nitrogen alloy, transacting at RMB116,000/mt (USD19,016/mt, export duty excluded) by acceptance. Steel mills severely pressed vanadium nitrogen alloy buying price, and real transaction price was comparatively low. With high cost, vanadium nitrogen alloy suppliers held wait-and-see attitude towards the market, expecting rational recovery.

European FeV transacted at USD25.75-26.25/kgV. Formerly, the increasing buying activities together with tight supply led to price uptick. Presently, the price stabilized. Exporters offered USD25-25.5/kgV and USD5.4-5.5/lb for FeV and vanadium pent oxide respectively.

It is expected that FeV50 price would keep steady due to firm raw materials cost. In the dull season, steel mills couldn’t sustain FeV market, FeV50 price is unlikely to change much.

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• [Editor:Mango]