Steel Tender Price Sharply Went Down, Vanadium Alloy In Downward Trend Under Pressure Yesterday, Minyuan Steel Group’s vanadium nitrogen alloy steel tender price was 173,000 CNY/ ton by cash with tax, 30 tons; Xinyu Iron and steel FeV50 was 134,000 CNY/ ton by acceptance with tax, 30 tons. Vanadium alloy tender price continues to fall drastically, the mainstream transaction price of the vanadium nitrogen market have fallen to 176,000-182,000 CNY/ton by acceptance, decreasing by 3,000-4,000 CNY/ton from the previous day. The mainstream dealing price of ferrovanadium is 134,000-136,000 CNY/ton by acceptance, and the overall transaction price continues to be slightly downward.

Since July, the crude steel production limit has entered a substantive promotion stage. This month, the steel mills have decreased the procurement in vanadium alloy, and prices have been driven down considerably. The transaction price of vanadium alloys is going down under pressure, and the mainstream large factories have suspended the quotation for three weeks. There are fewer orders in the alloy market, and the quotation of 173,000-174,000 CNY/ton increased for VN alloy trading companies yesterday. The ferrovanadium steel tender was still a small number. Under the pressure of production costs, the ferrovanadium manufacturers reduced the output and increased sales. Although the decline was relatively small, market transactions are very few.