[Ferro-Alloys.com] Chinese FeV price drop slightly with FeV50 quoted at RMB61, 000-62,000/mt by acceptance. Steel mills finished their tender with less volume and decreased price. Two steel mills in Jiangsu and Hubei were to purchase 190 tons of FeV50 at 55,700/mt by acceptance. A steel mill in North China was to purchase 40 tons of FeV50 at 57,000/mt by acceptance.

Oversea FeV price stayed flat. FeV50 was quoted at RMB62, 000/mt by acceptance; FeV80 quoted at RMB97, 000-98,000/mt; vanadium pent oxide RMB52, 000/mt;VN16 RMB90, 000-91,000/mt.

Prices for raw materials dropped and less demand from steel mills due to its overhaul and output cut, these prompt FeV producers to be pessimistic on future market. The ever –dropping tender price affected FeV producers’ cash flow greatly, thus FeV market continued its weak performance.

Chinese vanadium pent oxide price down, transaction price fixed at RMB51, 000-52,000/mt. downstream vanadium alloy market down-performed, thus price for vanadium pent oxide as raw materials was decreasing too. Few deals were reached.VN16 was quoted at RMB90, 000-91,000/mt by acceptance and few transactions were reached at high prices.

FeV price on European market dropped slightly and transaction price fixed at USD19.1-19.5/kgV. In face of a slack season, international vanadium market won’t fluctuate much. FeV price was quoted at USD20-20.5/kgV, vanadium pent oxide USD4-4.1/lb.

It is expected that FeV market would remain sluggish in the future.

• [Editor:Zhang Xing]