Vanadium Market Remains Sluggish Trend At the beginning of the week, the vanadium market continues to be weak. VN alloy tender price continued to decline on the weekend, and the price has fallen to 180,000-183,000 CNY/ton by acceptance. Since the beginning of the month, mainstream price of the VN alloy has fallen from 193,000-195,000 CNY/ton to 180,000-185,000 CNY/ton by acceptance. In half a month, a total of 115 million CNY/ton was lowered. The ferrovanadium transaction was light, and the downstream inquiry was very few according to manufacturers. Moreover, the ferrovanadium steel tender was in a small number, and the overall FeV selling pressure doubled. As a result, the transaction price is slightly down to 135,000-137,000 CNY/ton by acceptance.

Bulk V2O5 flake has fallen slightly again to 123,000-124,000 CNY/ton by cash. Due to the quick drop of alloys, most alloy manufacturers said that they would still face losses by purchasing and producing at current price. So most manufacturers are maintaining a wait-and-see mood, and the overall psychological expectation is low. Under the weak market of V2O5 and alloys, some ammonium metavanadate manufacturers have dropped the price slightly to 116,000-118,000 CNY/ton by cash, but there are only a small number of low-priced cargo.