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[Ferro-Alloys.com] Chinese FeV price dropped and FeV 50 was quoted at RMB 53000—54000 /mt by acceptance. Time for steel mills to release their tenders was fast approaching. The current low price cast shadow on the purchase. FeV transaction price decreased to RMB 54000 /mt by acceptance. Oversea FeV price remained stable.

FeV50 was quoted at RMB54,000/mt by acceptance;FeV80 quoted at RMB84, 000-85,000/mt; vanadium pent oxide RMB45,000/mt;VN16 RMB82, 000-83,000/mt.

Most FeV producers burdened surging cost and difficult cash flow and FeV market burdened great pressure. Most vanadium pent oxide producers had to sell on low price amid a gloomy market. Affected by dropping raw material prices and low purchase prices, market for VN16 continued its weak performance and companies were reluctant to produce to prevent money loss. A steel mill in North China was to purchase 40 tons of VN16 at a price of RMB 81,000 /mt by acceptance.

European FeV price dropped. Though summer vacation had ended, market didn’t turned warm as expected.

Outlook: FeV market remains weak, price won’t get high for lack of stimulus.

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• [Editor:Zhang Xing]