[Ferro-Alloys.com] Chinese FeV50 was offered at RMB79,000-80,000/mt (USD12,950-13,114/mt, export duty excluded) by acceptance. In mid-August, major steel mills delayed tenders, while business was concentrated on scattered buying activities, transacting atRMB78,000/mt (USD12,786/mt, export duty excluded) by acceptance. High raw materials cost made FeV supplier insist on their offers, but steel mills with low benefit pressed the buying price for FeV. 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.

A Shaanxi FeV supplier offered RMB79,000-80,000/mt (USD12,950-13,114/mt, export duty excluded) by acceptance for FeV. Due to shutdown, they picked up materials from inventory, after they received books. They will resume production till market bounce. Chinese vanadium pent oxide was offered at RMB68,000-69,000/mt (USD11,147-11,311/mt, export duty excluded) by acceptance. Increased inquiries with low price couldn’t be accepted by vanadium pent oxide sellers, as they had little inventory, and expected to market recovery. Vanadium nitrogen alloy was offered at RMB116,000-117,000/mt (USD19,016-19,180/mt, export duty excluded) by acceptance. Sluggish steel market further transmitted to upstream vanadium nitrogen alloy products.  Steel mills severely pressed vanadium nitrogen alloy buying price, and real transaction price was comparatively low. What’s more, steel mills postponed payment, so vanadium nitrogen alloy suppliers made low profit.

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]