Vanadium price forecasts for November (November 1-30, 2018)

Date: Nov 1, 2018 In October, vanadium prices basically remained stable. Three major manufacturers of V2O5 flake increased prices twice, from 420000 rmb/ton to 480000 rmb/ton and to 510000 rmb/ton, all by acceptance and with tax. The market prices of V2O5 flake stabilized in a range of 500000-520000 rmb/ton by cash with tax. When the purchase quantity of steel mills was reduced, the middlemen came into panic and quoted differently and some of them undersold in order to profit taking. At the end of Oct, vanadium-nitrogen bidding prices were in a range of 780000-805000 rmb/ton (acceptance, tax inclusive)and ferrovanadium bidding prices sat in a range of 470000-480000 rmb/ton (acceptance, tax inclusive).

As the new standard of Chinese rebar is about to be implemented in November, the consumtpion of vanadium is anticipanted to increase and vanadium prices are expected to hold firm.

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