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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, unchanged from last week. Downstream steel mills enhanced tender price of FeV50, albeit at a slow rate. Major mills’ purchase price of FeV was RMB79,000/mt (USD12,950/mt, export duty excluded) by acceptance. Overseas FeV price edged down.

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.

Most FeV suppliers insisted on their high offers, unwilling to sell at low level. The tender price of mills was not as high as expected, so FeV50 price had no momentum to rise again. Chinese vanadium pent oxide was offered at RMB69,000-70,000/mt (USD11,311-11,475/mt, export duty excluded) by acceptance. Vanadium pent oxide supply was limited, so suppliers had small inventory pressure and insisted on high offer. At the same time, the demand of downstream buyer was thin, vanadium pent oxide market lost upward momentum. Vanadium nitrogen alloy was offered at RMB116,000-117,000/mt (USD19,016-19,180/mt, export duty excluded) by acceptance. Suppliers first waited to see the market, as they couldn’t earn profit at the low level.

European FeV transacted at USD25.5-25.9/kgV. After summer holidays ended, demand didn’t pick up, so sellers dropped offer slightly and were watchful towards the market. Exporters offered USD25-25.5/kgV and USD5.4-5.5/lb for FeV and vanadium pent oxide respectively.

Despite that vanadium pent oxide market firmed, downstream steel price was around at low level. It is expected that V alloy price would keep steady in the near future.

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• [Editor:Mango]