The vanadium products market had not experienced big fluctuations in recent days. The market still maintained stable, especially supported by the intensive purchase from steel mills and steady prices. Some companies were worried about the subsequent market, but this situation will not last long.

　　1, The vanadium material price is relatively stable

　　The vanadium material market remained steady, mainly driven by the vanadium flake price. The flake price was difficult to decline triggered by the firm assessment from large companies and limited spots of small and medium producers. Besides other vanadium materials were hard to be concluded at high prices. Under this circumstance downstream companies took cautious about purchasing on the basis of demand.

　　At present 98% vanadium flake and powder assessment unchanged at 26,5000-27,5000 yuan/t and 26,0000-26,7000 yuan/t respectively. The ammonium molybdate assessment maintained stable at 25,2000-25,7000 yuan/t. The vanadium powder and ammonium molybdate market fluctuated slightly, with some producers offering at low prices. Based on the stability of vanadium flakes, some companies still made the effort to support the market. Otherwise the vanadium flake market maintained stable mainly because the spots price of small and medium producers were higher than main producers. The market might stepped into a relatively weak period if spot prices of small and medium producers were lower than large ones.

　　2, The ferrovanadium and vanadium nitrogen alloy market maintained stable

　　Recently ferrovanadium companies maintained its assessment steady. Producers and traders were cautious about taking action as they feared for a weakening market. The ferrovanadium assessment unchanged at 27,0000-28,5000 yuan/t currently. We understood that companies that possessed large amount of stocks had succeeded in digesting a part of it. They also took cautious about delivering because it was difficult to purchase at a low price.

　　Supported by cost and insufficient inventories, vanadium nitrogen alloy had not seen obvious changes, with its price maintaining at high levels. Some producers also said that this round of tenders might be stable, but a reduction in demand might have negative impact on the market. At present the vanadium nitrogen alloy assessment maintained stable at 40,5000-43,0000 yuan/t. Vanadium nitrogen alloy companies were not worried about the prices, but paid attention to the market demand and substitution effects of ferroniobium.

　　In conclusion, the vanadium product market had seen a stable trend temporarily. Participants were less worried about the market in short terms, but still focused on the development of the subsequent market, especially the purchase amount from steel mills.

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