European Price Stops Falling And Domestic Export Decreases Last Friday, the price of ferrovanadium in the European market was 25.3-25.95 USD/KgV, convert into 50# ferrovanadium RMB price was 90,200-92,500 Yuan/ton, temporarily stable. The price of European V2O5 remained at 5.5-6.4 USD/LB V2O5, convert into V2O5 98% RMB price was 84,700-98,600 Yuan/ton; the price of ferrovanadium in United States was 9.95-10.25 USD/LB V, convert into 50# ferrovanadium RMB price was 78,200-80,600 Yuan/ton. Today’s exchange rate is USD: RMB = 7.118:1.
According to some export traders, at present, the domestic supply of V2O5 flake is short, so it is difficult to operate in the aspect of export, and the business focus is at home. Under the current market situation, it is expected that the export market will only be maintained by long-term orders, and the import has formed a relatively stable trend at present. It is difficult to cause a large flow of domestic and foreign vanadium resources when the price gap between domestic and foreign is not large, and the price of vanadium in Europe stopped falling which is positive for the domestic market.