The Epidemic Affected The Terminal Demand And The Domestic Vanadium Price Fell As A Whole Up to now, there is a big difference between vanadium manufacturers and trade quotations. The high price of mainstream VN alloy manufacturers is between RMB 157000-158000 / ton by cash. However, due to the cash flow in the market, most of the commodities are stored by traders in the early stage, and the traders have been bearish in the future due to less transactions in recent days. So far, the quotation in the bulk market is 152000 yuan / ton by cash. Some steel mills including some traders only offer price of about 153000 yuan / ton by cash. At present, the price of FeV market is about 107000 yuan / ton by acceptance, and the price of FeV outside the furnace is between 103000 yuan / ton and 105000 yuan / ton, with a slight decline in price.

Since yesterday, the price of V2O5 flake in bulk market has been reduced rapidly. Up to now, the price is about 96000-97000 yuan / ton by cash, and the manufacturers’ willingness to buy is even lower.

The outbreak of the novel coronavirus pneumonia in China has different effects on different period of the vanadium market in China. In the first ten days of February, the impact of the epidemic on the vanadium price was pushed up to a certain extent.  Such as the delay in the factory’s resumption of work, the road traffic jam. After the centralized procurement of steel mills in the first ten days, the market procurement decreased in the middle of the light demand. At this time, the construction site affected by the epidemic could not be started, steel transportation difficulties and other problems led to steel inventory reaching a new high. Steel mills have limited production, overhauled and destocked, and the sharp reduction of terminal demand in a short period of time directly leads to the decline of market volume. When the price goes up in the early stage, the traders who store goods are bullish on the delivery, and the price goes back.

In the last ten days of this month of vanadium market, due to the unified quotation of the three major manufacturers at the raw material end of 96000 yuan / ton by acceptance. The price of V2O5 flake also tends to move closer to the price of large factories. There is a large amount of VN alloy in the active bulk market. In addition, the limited production of steel mills is expected to reduce the bidding volume in the last ten days of February. Therefore, it is expected that the price of vanadium in the last ten days will return to the price before the year.