Vanadium Weekly Review During 17-21 July, 2023

www.ferroalloynet.comVanadium market is declining slight with 500-1500 CNY/T this week. The overall demands from steel were still weak and the overall cost on raw materials also decline which dropped the overall market price. It is forecast that the overall vanadium market may keep slow next week as another round of steel bidding may start.

1. Summary of Vanadium Biddiding in July 2023

Company

Products

Price ( CNY/T)

Quantity ( Ton)

Basis

Date

One steel mill in Xinjiang

FeV50

118,000

30

Acceptance with tax

3rd July

One steel mill in Fujian

VN16

163,900

30

Cash with tax

4th July

Yunnan Chenggang

VN16

163,600

30

Cash with tax

4th July

One steel mill in Liaoning

V77N16

168,000

75

Acceptance with tax

4th July

One steel mill in Liaoning

V77N16

168,000

75

Acceptance with tax

4th July

JISCO Yuzhong Iron & Steel

V77N16

167,500

30

Acceptance with tax

4th July

One steel mill in Shandong

VN16

163,800

60

Cash with tax

5th July

Anhui Changjiang Steel

VN16

165,000

90

Acceptance with tax

6th July

Shougang Tonggang

VN16

164,570

15

Cash with tax

6th July

Shaogang

Steel

VN16

165,000

190

Acceptance with tax

7th July

Shougang Changzhi

VN 16

164,200

20

Acceptance with tax

7th July

Zenith Steel Group

VN16

164,000

75

Acceptance with tax

7th July

One steel mill in Hunan

VN16

165,000

20

Acceptance with tax

7th July

One steel mill in Jiangsu

FeV50

115,100

60

Acceptance with tax; including bidding service fee

10th July

Shaogang

FeV50

114,500

64

Acceptance with tax

12th July

EGANG

FeV50

114,500

20

Acceptance with tax

12th July

Minyuan Iron & Steel

V77N16

159,000

20

Cash with tax

13th July

One steel mill in Shandong(Rizhao)

FeV50

117,500

30

Acceptance with tax

13th July

One steel mill in Shandong(headquarters)

FeV50

115,500

30

Cash with tax

13th July

Wugang Xiangyang

FeV50

115,300

10

Acceptance with tax

13th July

One steel mill in Henan

FeV50

112,600

10

Cash with tax

13th July

One steel mill in Hebei

VN16

165,300

35

Acceptance with tax

13th July

One steel mill in Shandong

VN16

162,000

60

Cash with tax

13th July

Kunming Iron & Steel(Anning Base)

VN16

163,500

20

Cash 60% +6 month bank acceptance 20% +6 month commercial acceptance 20%

14th July

Shougang Changzhi

VN16

163,450

20

Acceptance with tax

14th July

JISCO Yuzhong Iron & Steel

V77N16

167,000

30

Acceptance with tax

14th July

One steel mill in Henan

FeV50

115,000

20

Acceptance with tax

18th July

One steel mill in Hunan

FeV50

114,000

30

Acceptance with tax

18th July

One steel mill in Hebei

V75N16

160,000

160

Cash with tax

18th July

One steel mill in East China

FeV50

115,200

20

Acceptance with tax

19th July

One steel mill in Southwest

FeV50

114,500

33

Acceptance with tax

19th July

One steel mill in Shandong

VN16

162,000

60

Cash with tax

20th July

2. China vanadium market overview
Ammonium metavanadate market
This week, ammonium metavanadate price doesn’t hold on by declining 1000 CNY/T from 101,000-102,000 CNY/T by cash with tax. The key season for this price dropping is the vanadium nitride alloy market prices soft with steel bidding prices for VN alloy edgeing down. And retail V2O5 flake market prices also slip which also discouraged some ammonium metavadate companies.
V2O5 Market
The price for V2O5 flake goes down by 500 CNY/T to 105,500-106,000 CNY/T by cash with tax. As the VN alloy prices weaken and the supply is stable on V2O5 flake which put some producers inactive to sell. And the expectation purchasing prices for V2O5 flake also concentrates on 105,500 CNY/T by cash with tax.
Ferro-Vanadium Market
The ferrovanadium market price this week slips by 500 CNY/T to 114,000-116,000 CN/t delivery by acceptance with tax. First, the cost support has weakened as raw material prices have dropped slightly, and the quotation of ferrovanadium is also slightly declining. Second, steel mills have low acceptance of high prices, preferring to delay purchases, and the transaction is deadlocked.
Vanadium Nitrogen Market
This week, the vanadium nitride alloy market price edges down by 1500 CNY/T, reaching to 162,000-164,000 CNY/T by acceptance with tax. In the mid-to-late ten days, the demand for vanadium-nitrogen alloys has weakened, traders have fewer inquiries, and it is not easy to trade at high levels. Some manufacturers are more willing to make price concessions, and their quotations are loose.
3. Vanadium worldwide market review
On July 19, European ferrovanadium price was 32-32.76 (down 0.7) USD/Kg V, equivalent to the price of ferrovanadium50 about 115,600-118,400 CNY/Ton; European vanadium pentoxide was 7.5-8.76 USD/Lb, equivalent to vanadium pentoxide98% about 117,100-136,800 CNY/Ton; U.S. ferrovanadium was 16-17 USD/Lb V, equivalent to the price of ferrovanadium 50 about 127,500-135,400 CNY/Ton.
3. Forecast on next week
FerroAlloyNet is expected that the overall vanadium market next week may keep steady with the price of V2O5 flake at 105,500 CNY/T by cash with tax. Next week, a new round of steel recruitment will be launched gradually which may support the demand of vanadium. In addition, vanadium pentoxide flake holders are reluctant to sell at low prices, in line with the recent increase in inquiries from traders; it is still not easy to purchase raw materials at low prices. With this high cost, the overall vanadium market may keep stable next.

www.ferroalloynet.com

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