The vanadium market seemed good. On one hand tight vanadium spots and increased inquiries resulted in less low-prices spots. On the other hand steel mill have started to make purchase which brought energy to the terminal demands. Producers were also waiting for tenders from steel mills and changes in the market demand.

　　1, Vanadium material spots are still tight

　　Recently the vanadium material market has become brisker. Some vanadium alloy companies paid more efforts to make purchase due to worries about increasing prices and the difficulty of buying materials, while some producers also tried to adjust its quotations, especially ammonium vanadate prices changed obviously. Downstream companies were hard to purchase at will and forced to accept some high-price products.

　　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 remained stable at 25,0000-25,5000 yuan/t. Ammonium vanadate companies have received more inquiries, and downstream companies were also enthusiastic about purchasing. Some enterprises that delivered ta low prices have become more cautious. Restart of some companies also failed to alleviate the tight supply in the market. The vanadium flakes market, the main supporter of the whole market, still remained stable. Producers were also optimistic about the subsequent market. Vanadium powders companies were reluctant to sell at low prices and had confidence in the subsequent market.

　　2, Ferrovanadium and vanadium nitrogen companies are waiting for tenders from steelmakers

　　The ferrovanadium market maintained stable, with producers offering at high levels. Companies were not only focusing on the market demand, but also paid attention to tenders from steel mills. Currently The ferrovanadium assessment unchanged at 27,0000-28,5000 yuan/t. We understood that ferrovanadium companies held an positive attitude toward the market, and some traders also cautiously came to make purchase.

　　The vanadium nitrogen market with decreased low-price spots moved forward steadily, mainly triggered by the production cost of some companies, especially those purchasing vanadium powders and ammonium vanadate. Currently the vanadium nitrogen alloy assessment maintained stable at 40,5000-43,0000 yuan/t. The price made by steel mills mainly hovered at 41,0000-42,0000 yuan/t. Vanadium nitrogen enterprises, as we learnt, were actively buying raw materials, but still appeared cautious about the high-price spot lots. Meanwhile they were also waiting for tenders from steelmakers and focusing on changes in its prices and demands, particularly some steelmakers that made an reduction and did not purchase vaandium nitrogen.

　　In summary, the vanadium market maintained stable and firm, with some quotations slightly changing. Overall low-price spots have decreased but high-prices still remian the same. Producers became more optimistic but still took cautious about purchasing.