The Vanadium Price Maintains Stability and the Offer Keeps Strong In late April, the vanadium price continues to be stable, while the trading of ammonium metavanadate and vanadium pentoxide has improved slightly. The market price of ammonium metavanadate is CNY 16-16.5, the acceptance price of vanadium nitrogen pentoxide is CNY 170,000/t , and the cash price of retailing market is CNY 165,000-168,000/t. The current transaction price of ferrovanadium and vanadium-nitrogen alloy is still not optimistic. The quotation of downstream factories is firm, and that of ferrovanadium is CNY 175,000-180,000/t. The offer of vanadium-nitrogen alloy factories are relatively decentralized, the offer of a small number of factories is CNY 250,000/t, the offer of some factories which have utilized high-priced raw materials is maintained at CNY 255,000/t, and some of the more optimistic factories’ offer is CNY 260,000/t to be increased.

A new round of steel bidding is approaching, vanadium price is expected to enter the steel bidding at the current price. Although the stock pressure of ferrovanadium and vanadium-nitrogen alloy factories in April is not as great as that of the previous month, they still need to face certain sales problems, which is unfavorable to the next-round steel bidding. It is better for traders wait for the guidance price of steel bidding.