Vanadium weekly review (November 19-23, 2018): The decline of vanadium price is irresistible amid low spot demand

Date: Nov 23, 2018 This week, the market prices of all vanadium products are decreased at different extent. Steel mills release low consumer demand and the market activity is thin. Some traders search for the goods for steel mills but just inquire. Steel mills are restrained in production in winter and some of them still have small tonnages of vanadium-nitrogen, hence their purchase quantity is quite small. Thus, more and more sellers undersell and the market prices keep dropping.

Steel mills’ bidding prices for November

Company Product Price(RMB/TON) QTY(TON) Basis
Laiwu Steel Vanadium-nitrogen 788000 180 Acceptance, tax inclusive
Hebei Jinye Vanadium-nitrogen 760000 20 Acceptance, tax inclusive
Xinyang Iron&Steel Vanadium-nitrogen 760000 20 Acceptance, tax inclusive
Jin Gang Vanadium-nitrogen 750000 20 Acceptance, tax inclusive
NXSG Vanadium-nitrogen 750000 30 Acceptance, tax inclusive
Wuhu Xinxing Pipes Vanadium-nitrogen 760000 10 Acceptance, tax inclusive
Anyang Yongxing Vanadium-nitrogen 745000 10 Acceptance, tax inclusive
BX Steel Vanadium-nitrogen 775000 40 Acceptance, tax inclusive

China vanadium market overview

China ammonium metavanadate market

Ammonium metavanadate prices go down sharply and are varied in a range of 300000-350000 rmb/ton without tax. Manufacturers and traders rush to sell but the transactions are quite few. The downstream alloy factories have no fresh orders and dare not replenish raw materials. The market has been in gridlock.

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