[Ferro-Alloys.com] Chinese FeV50 was offered at RMB79,000-80,000/mt (USD12,950-13,114/mt, export duty excluded) by acceptance. In late month, major steel mills entered the market to buy FeV, transacting at RMB79,000/mt (USD12,950/mt, export duty excluded) by acceptance. Steel mills earned low profit, pressing the tender price of FeV. Overseas FeV price kept steady.

FeV50, FeV80, vanadium pent oxide and vanadium nitrogen alloy price stood at RMB80,000/mt (USD13,114/mt, export duty excluded), RMB125,000/mt (USD20,491/mt, export duty excluded), RMB69,000/mt （USD11,311/mt, export duty excluded) and RMB116,000/mt (USD19,016/mt, export duty excluded) by acceptance.

A Shaanxi FeV supplier offered RMB80,000/mt (USD13,114/mt, export duty excluded) by acceptance for FeV, mainly selling materials to old customers. They resumed FeV production, and transaction volumes were steady. FeV suppliers refused to drop offer restrained by cost, but steel mills pressed FeV tender price. So both sides were stalemated. Chinese vanadium pent oxide was offered at RMB69,000-70,000/mt (USD11,311-11,475/mt, export duty excluded). Suppliers had limited materials in hand, unwilling to sell at low price. The supply of vanadium pent oxide was tight, with offer approaching high level.

Vanadium nitrogen alloy was offered at RMB116,000-117,000/mt (USD19,016-19,180/mt, export duty excluded) by acceptance. The excessive supply made sellers drop offer, and the tender price of FeV was RMB115,500/mt (USD18,934/mt, export duty excluded) by acceptance. Vanadium nitrogen alloy market would weaken later.

European FeV transacted at USD25.75-26.25/kgV. FeV price was sustained by downstream demand. Exporters offered USD25-25.5/kgV and USD5.4-5.5/lb for FeV and vanadium pent oxide respectively.

In September, steel industry hiked the demand for FeV, so FeV market would recover. What’s more, vanadium pent oxide cost kept firm, and suppliers rejected to drop quotation.

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• [Editor:Mango]