VN Bidding Price Continues To Fall, Vanadium Raw Material Companies Reduce Prices To Promote Transactions

Summary of transaction prices of vanadium products: vanadium nitrogen alloy is 158,000-162,000 CNY/Ton (by acceptance),ferrovanadium is 115,000-116,000 CNY/Ton (by acceptance); retail V2O5 flake is 106,000-107,000 CNY/Ton in cash, and ammonium metavanadate is 102,000-103,000 CNY/Ton in cash.

In terms of alloys: a small amount of vanadium-nitrogen alloy retail transactions were around 160,000 CNY/Ton in cash, and individual bidding prices continued to be under pressure and fell sharply to 155,000 CNY/Ton in cash. Manufacturers have high cost pressure and few quotations, and some traders’ quotations with high purchase costs in the early stage are still around 165,000 CNY/Ton in cash, but it is difficult to make a deal higher than 160,000 CNY/Ton because of the weak market. The quotations in the ferrovanadium market are chaotic at 114,000-120,000 CNY/Ton in cash, but the bidding price of steel mills is low and it is difficult to trade at high prices. The current mainstream transaction price in the market is 115,000-116,000 CNY/Ton (by acceptance).
In terms of raw materials: Alloy transactions continued to decline, and it was difficult for some retail V2O5 flake holders to quote at 110,000 CNY/Ton in cash; a small amount of them gave price concessions to 106,000-107,000 CNY/Ton in cash to promote transactions, but the majority of downstream purchase intentions did not exceed 105,000 CNY/Ton, the transaction is not smooth after the price reduction. Transactions continue to decline. Some stone coal vanadium extraction manufacturers have tight profit margins, and ammonium metavanadate market quotations are less; however, downstream transactions continue to fall, and some ammonium metavanadate manufacturers and holders are forced to lower prices to 102,000-103,000 CNY/Ton in cash.