China’s Vanadium Prices Retreat On Subdued Buying, Ample Supply

China’s domestic vanadium prices retreated on some of the gains made in recent weeks in week to Thursday June 18 due to thinning buying interest and abundant market supply, sources told Fastmarkets.

Alloy prices lose upward momentum on sparse inquiries
Domestic prices for vanadium alloy products including ferro-vanadium and vanadium nitrogen moved down after some alloy producers made big compromises in negotiations with a sparse number of mills with buying interest, sources said.
The transaction price for vanadium nitrogen, for instance, fell to around 161,000 yuan ($22,762) per tonne last week from approximately 172,000 yuan per tonne in early June – with the price paid on acceptance and including value added tax (VAT), Fastmarkets heard.
Many Chinese mills have retreated from the market in the past week after completing their stock replenishment in previous weeks, sources said. The resultant lack of buying interest weighed on market sentiment and prompted some alloy suppliers to make concessions in offer prices in a bid to secure deals, market sources added.
“I am surprised that some alloy suppliers finalized deals at much lower-than-expected prices…