Vanadium Consumption Analysis In October 2021 According to incomplete statistics from this website, the output of vanadium pentoxide in the vanadium market in October was about 10,335 tons, including 9,608 tons of V2O5 flake and 727 tons of V2O5 powder; 4,026 tons tons of ferrovanadium and 4,554 tons of vanadium-nitrogen alloys.

Product Conversion Rate Output(Ton) Converted Consumption(Ton)
FeV50→V2O5 flake 1:0.95 2,426 2,304.7
FeV80→V2O5 flake 1:1.52 1,000 1,520
VN→V2O5 flake 1:1.416 4,554 6,448.5

According to the calculations in the figure, the output of ferrovanadium50 is 2426 tons, ferrovanadium80 is 1000 tons, and the total consumption should be about 3824.7 tons which are converted into V2O5 flake, and the total consumption of 4554 tons of vanadium-nitrogen alloy is about 6448.5 tons of V2O5. The consumption of vanadium oxide by ferrovanadium and vanadium-nitrogen alloy is about 10273.2 tons. The export volume in the international market in October is estimated to be about 1300 tons of V2O5, and the volume of imported V2O5 flake,ferrovanadium50, and ferrovanadium80 in October is expected to be about 300 tons. In summary, the total supply of vanadium pentoxide in the market is about 10,635 tons, and the total consumption is about 11273.2 tons. The supply does not include about 1,100 tons of domestic ammonium metavanadate production and imports. From a theoretical point of view, the total supply of the market is greater than the consumption.

At the beginning of October, vanadium prices were low, and the bargain-hunting sentiment of manufacturers and traders was high, which led to a slight increase in purchases by some steel mills. In addition, the upstream raw material manufacturers had recently increased the cost of auxiliary materials and were reluctant to sell the goods. Therefore, vanadium prices rose rapidly. Although the transaction lacked support, the upstream and downstream prices were unified and supported by major manufacturers. In the second half of the month, the vanadium price consolidated at a high level and fell slightly at the end of the month.