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[Ferro-Alloys.com] Chinese FeV50 was offered at RMB79.000-80,000/mt (USD12,950-13,114/mt, export duty excluded) by acceptance. In mid-month, as downstream steel mills decreased buying volumes, the market was quiet. Still some steel mills made scattered tenders, with FeV50 transacting at RMB78,000-79,000/mt (USD12,786-12,950/mt, export duty excluded) by acceptance. Overseas FeV price was steady.

FeV50, FeV80, vanadium pent oxide and vanadium nitrogen alloy price stood at RMB80,000/mt (USD13,114/mt, export duty excluded), RMB125,000/mt (USD20,491/mt, export duty excluded), RMB69,000/mt （USD11,311/mt, export duty excluded) and RMB116,000/mt (USD19,016/mt, export duty excluded) by acceptance.

FeV50 price kept steady. Downstream rebar price lingered at low level, which exerted downward pressure on the market. Considering high cost, FeV suppliers rejected to sell low-priced materials. Chinese vanadium pent oxide was offered at RMB69,000-70,000/mt (USD11,311-11,475/mt, export duty excluded) by acceptance. The operation rate and inventory of suppliers were too low, so the entire supply in the market was limited. Most vanadium pent oxide suppliers firmed their offers, unwilling to sell low-priced materials. Chinese vanadium nitrogen alloy was offered at RMB116,000-117,000/mt (USD19,016-19,180/mt, export duty excluded) by acceptance. Most suppliers couldn’t earn profit as downstream steel mills pressed tender price. The transaction volume was not much, as sellers and buyers were watchful.

European FeV transacted at USD25.5-25.9/kgV. Its price drop rate slowed, and expected to linger as the demand didn’t improve much. Exporters offered USD25-25.5/kgV and USD5.4-5.5/lb for FeV and vanadium pent oxide respectively.

It is expected that FeV50 price would keep steady, as FeV suppliers are watchful amid sluggish steel market.

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• [Editor:Mango]