The vanadium market had stepped into a quiet period in recent days. On one hand, steel mills made less purchase which alleviated pressures on the market. On the other hand producers were cautious about the development of the subsequent market. Vanadium companies also not rushed to deliver as a result of less pressures on inventories.

　　1, The vanadium materials are supported by vanadium flakes

　　Recently the vanadium material market maintained stable, mainly supported by limited spots and production. Other vanadium materials had been sold at a low price which kept the whole market maintaining steady. As the material prices took the high position for a long time, some companies also speeded up to restart their production as soon as possible.

　　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 vanadate assessment maintained stable at 25,2000-25,7000 yuan/t. The vnadium powder and ammonium vanadate market seemed weak, which because flakes spots were able to satisfy demands from vanadium alloy companies. Some companies were forced to sell so as to make delivery, and they were also worried about the subsequnet market. According to our statistics, the total transaction of vanadium flakes amounted to 600 tons. Both large and small- and medium-sized producers performed well.

　　2, The ferrovanadium and nitrogen alloy market tend to be dull

　　The ferrovanadium market had not seen obvious changes, with its quotations remaining at high levels. Some low-price deals were made by traders, while steel mills mainly tendered at a high level. Currently The ferrovanadium assessment unchanged at 27,0000-28,5000 yuan/t. Many ferrovanadium companies, as we learnt, offered at 27,5000-28,0000 yuan/t and ferromoly was reported concluded at 26,5000-27,0000 yuan/t. Ferromoly prodcers mainly provided quotations based on the amount they can purchase. To reduce production cost some companies also bought ammnium vanadate for processing. It was expected that the ferromoly market will become quiet as tenders being complete.

　　The vanadium nitrogen alloy market maintained at high level. On one hand it was hard to reduce the production cost because of insufficient materials. On the other hand steel mills purchased at a high price giving support to the market, which also changed the attitude of some enterprises. Currently the vanadium nitrogen alloy assessment maintained stable at 40,5000-43,0000 yuan/t. The price made by steel mills mainly hoverd at 41,0000-42,0000 yuan/t. We understood that vanadium nitrogen alloy prices maintained at high levels, and producers were worried about risks mainly purchasing on the basis of orders and productions. It was expected that the vanadium nitrogen alloy market will not experience big fluctuations. Companies should cautiously deal with changes in the market.

　　3, The international vanadium market slightly drift downward

　　The international vanadium market slided down influenced by the summer vacation and arbitrage, especially the European ferrovanadium market moved lower. The European vanadium pentaoxide market maintained stable, but most of transactions had been done at a low price. The American ferrovanadium market had seen low quotations and unsmooth transactions.

　　The European ferrovanadium assessment fell to $90-82/t, while the American fferrovanadium assessment range narrowed to $39-39.8/t. The European vanadium pentaoxide assessment unchanged at $ 18.5-19.25/t.

　　In conclusion, the vanadium price in China maintained stable, and producers also calmly dealt with the situation. They will not accumulate a large amount of stocks, and will not take action blindly. Most of producers and traders were busy with orders from steel mills.

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