[ferro-alloys.com] Vanadium market weakened this week. Prices of raw material vanadium pentoxide flake of main large-scale plans were not changed, and prices of vanadium pentoxide flake of small and medium—scale plants softened; prices of raw material ammonium metavanadate, ammonium polyvanadate, and vanadium pentoxide powder continued to be down slightly. Prices of ferro-vanadium and vanadium-nitrogen alloy continued to drop; vanadium-aluminium alloy and vanadium nitride are relatively good. Pangang’s offer of ferro-vanadium was not changed and its offer of vanadium-nitrogen alloy dropped. Prices of tender of ferro-vanadium and vanadium-nitrogen alloy were weak. Prices of ferro-vanadium and vanadium pentoxide flake in international market slid.

 Vanadium pentoxide flake quoted by large-scale plant steadily stood at 190,000 rmb/mt and that quoted by small and medium—scale plants softened, whose offers were gradually close to large-scale plant’s offer. Meanwhile, further affected by heavy pressure-bearing of the downstream market, offers of ammonium metavanadate and vanadium pentoxide powder were further down. Buyers were cautious and waiting and seeing, and they began to ask for lower prices. Large-scale plants of raw materials did not have redundant supplies, even though the downstream market was weak, it did not have the condition and basis for a sharp drop of price of raw material. Affected by declined price of tender of the steel mills—acceptance price of tender of ferro-vanadium 50% at 190,000 rmb/mt and acceptance price of tender of vanadium-nitrogen alloy at 282,000 to 287,000 rmb/mt, offers of ferro-vanadium and vanadium-nitrogen alloy further dropped, ferro-vanadium 50% was mainly quoted at 192,000 to 195,000 (cash-acceptance), vanadium-nitrogen alloy was mainly quoted at 282,000 to 285,000 (cash-acceptance). Price of vanadium aluminum alloy did not have much change than that in the early period, and its AlV55 price was firm at 240,000 to 250,000 rmb/mt; vanadium nitride price recovered as the vanadium nitride at lower price was gradually consumed for the better demand, and vanadium nitride V45N10 offer rose to 190,000 rmb/mt from 188,000 rmb/mt of last week.   

Pangang’s weekly guidance price of ferro-vanadium 50% remained at 195,000 rmb/mt (acceptance), and price of vanadium-nitrogen alloy dropped to 286,000 rmb/mt from 293,000 rmb/mt (acceptance) of last week.  

International vanadium markets were inactive and offering prices slid. Of which, price of ferro-vanadium slid more obviously, price of vanadium pentoxide was relatively flat. On May 11, Prices of vanadium products in international market slid roundly. Price of European ferro-vanadium slid to 65.5-67.9 usd/kg; price of European vanadium pentoxide slid to 14.5-15 usd/lb; price of American ferro-vanadium slid to 32.25-33 usd/lb. Chinese vanadium export activity was limited, fob China ferro-vanadium offer slid to 65-66 usd/kg, fob China vanadium pentoxide offer slid to 14.5-14.8 usd/lb.   

Supply of rebar increased, its high inventory suppressed the price, currently rebar market was weak, and the following market may on a downward trend. Affected by the softened price of tender of steel mill, price in vanadium market was weaker in a whole, and even prices and production cost of ferro-vanadium and vanadium-nitrogen alloy plants were upside-down. Purchasers’ purchasing positivity weakened and they asked for a lower price. Under the condition of prices weakening, buying up not buying down mentality appeared and conclusion in the market was mild. It is expected that vanadium market price will further slide. In view of tense supply of raw material, a large downward adjustment should not be appeared in vanadium price. 

• [Editor:Wang Linyan]