Vanadium Weekly Review During 7-11 August, 2023

www.ferroalloynet.comVanadium market is weak with prices declining by 750-2000 CNY/T this week. At the beginning of the week, the steel bidding for vanadium nitride alloy took the lead in falling due to the contradiction between the oversupply of alloys and demand and the manufacturers’ selling intentions increased. Affected by the price drop in the alloy market, inquiries for downstream raw materials decreased and quotations from V2O5 flake holders gradually loosened, which put the transaction prices returned to the level at the beginning of the month. To sum up, the demand support is insufficient, vanadium pentoxide flake are over capacitated and the upstream is still reluctant to sell, the vanadium market fluctuates within a narrow range. And it may not have any improvement yet next week as the demands don’t have any improvement.

1. Summary of Vanadium Biddiding in August 2023

Company

Products

Price ( CNY/T)

Quantity ( Ton)

Basis

Date

Shougang Changzhi

VN16

167,400

20

Acceptance with tax

31st July

One steel mill in Southwest

FeV50

115,500

99

Acceptance with tax

1st Aug

Shougang Tonggang

FeV50

115,000

7

Cash with tax

1st Aug

One steel mill in Henan

FeV50

115,000

20

Cash with tax

1st Aug

One steel mill in Shandong

FeV50

117,000 (headquarters)

50

Cash with tax

1st Aug

Guangxi Shenglong

VN16

162,000

70

Cash with tax

1st Aug

Longteng Special Steel

FeV50

117,500

20

Acceptance with tax

1st Aug

One steel mill in Fujian

VN16

161,770

50

Cash with tax

2nd Aug

JISCO (headquarters)

FeV50

121,000

30

Acceptance with tax

2nd Aug

One steel mill in East China

VN16

164,300

110

Cash with tax

2nd Aug

One steel mill in Hebei

FeV80

185,000

20

Acceptance with tax

3rd Aug

One steel mill in Hebei

V75N16

163,500

30

Acceptance with tax

3rd Aug

One steel mill in Jiangsu

VN16

165,000

60

Acceptance with tax

3rd Aug

Anhui Changjiang

VN16

163,000

100

Acceptance with tax

7th Aug

Yunnan Chenggang

VN16

161,500

30

Cash with tax

7th Aug

Shaogang

FeV50

115,700

60

Acceptance with tax

7th Aug

Shaogang

VN16

161,800

140

Acceptance with tax

8th Aug

EGANG

VN16

161,800

15

Acceptance with tax

8th Aug

EGANG

FeV50

115,700

20

Acceptance with tax

8th Aug

Shougang Changzhi

VN16

162,450

20

Acceptance with tax

9th Aug

One steel mill in Central China

FeV50

116,500

10

Acceptance with tax

9th Aug

One steel mill in Hunan

FeV50

115,800

30

Acceptance with tax

10th Aug

One steel mill in Liaoning

V77N16

164,000

75

Acceptance with tax

10th Aug

2. China vanadium market overview

Ammonium metavanadate market
This week, ammonium metavanadate market stays steady with price concluding at 101,000-102,000 CNY/T by cash with tax. The overall transaction in the market is hard to reach high price amid the lower prices from alloy tender prices. Under this condition, the overall ammonium metavanadate market goes steadily.

V2O5 Market

The deal price for V2O5 flake falls slightly this week. Affected by the declining market price from alloy and the active sales intention from suppliers, the overall quotation had dropped a bit. Till Friday, the quotation for V2O5 flake offered at 106,000 CNY/T by cash with tax and clinched at 105,500 CNY/T by cash with tax.

Ferro-Vanadium Market

Impacted by the soft bidding price from steel mills, the ferrovanadium market prices also edge down this week. Currently the steel recruitment in the market is rare. Besides, V2O5 flake market prices also dropped a bit. Both costs and demands had pulled down the ferrovanadium prices. And some ferrovanadium traders also preferred to wait and see rather than making offer.

Vanadium Nitrogen Market

This week, the vanadium nitride alloy market weakens again with price falling by 2000 CNY/T. Recently, the operating rate of vanadium nitride alloy manufacturers has increased slightly, and most manufacturers are producing normally. Faced with steel mills’ bidding, manufacturers are active to sell which puts the contradiction between supply and demand to have become prominent. Some steel mills also are active to squeeze the purchasing prices especially for some medium and large scale steels. As of Friday, retail manufacturers and traders quoted 160,000 CNY/T by cash with rare deals.

3. Vanadium worldwide market review

On August 9, European ferrovanadium was 31.6 (up 0.5)-32.51 (down 0.2) USD/Kg V, equivalent to the price of ferrovanadium50 about 113,100-116,400 CNY/Ton; European vanadium pentoxide was 7.7-8.76 USD/Lb, equivalent to vanadium pentoxide98% about 119,100-135,500 CNY/Ton; U.S. ferrovanadium was 15.75-16.5 USD/Lb V, equivalent to the price of ferrovanadium50 about 124,300-130,200 CNY/Ton.

4. Forecast on next week

FerroAlloyNet is forecasted a downward market for vanadium next week as the steel bidding in the middle of month is not active and some V2O5 flake traders are active to make offer. The long term order price for V2O5 flake from large scale producers in August deal at .106,500 CNY/T by cash with tax, which is a high costs for downstream buyers. Under this condition, the overall decline for vanadium will not in high level.

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