The Demand Was Weak and Vanadium Prices Fell Slightly At the beginning of the week, most vanadium-nitrogen alloy plants had no idea to quote and without any inquiry. Therefore, it was no longer meaningful whether to quote or not. The futures quotation of some small factories was CNY 205,000-210,000/t by cash. The quotation of traders was on the low side. The tax-inclusive quotation of vanadium-nitrogen alloy was CNY 200,000-205,000/t by cash, while that of 50# was CNY 135,000-140,000/t, with a few transactions. Last week, the bulk price of V2O5 flake was CNY 130,000-135,000/t by cash, while the offer of ammonium metavanadate began to be lower than CNY 130,000/t. The purchasing volume of downstream alloy factories kept low, and they took wait-and-see stances.

This week, several steel mills have entered the market to purchase vanadium-nitrogen alloy with less procurement and more supply. The steel tenders for vanadium-nitrogen alloy have reduced compared with last month, and vanadium prices are bound to keep falling slightly. Today, Shaoguan Steel has purchased 80 tons of vanadium-nitrogen alloy, and the bidding price will come out in this afternoon.