The vanadium market has not seen many changes, but producers’s attitude was good than before. The vanadium flakes and nitrogen alloy market performed good, while other products adjusted based on actual situations. Producers appeared strongly unwilling to sell at low prices, with its quotations becoming firm.

　　1, The vanadium material market was good, with companies unwilling to sell at low prices

　　The vanadium material market operated good. On one hand vanadium flakes market with limited spots has received more inquiries. Large producers tried to stabilize the market, while small-and medium-sized producers were optimistic about the subsequent market. On the other hand the vanadium powder and ammonium vanadate market seemed brisk and saw increased high-price spot lots, which gave assistance to the stability of the market.

　　98% vanadium flake and powder assessment unchanged at 265,000-275,000 yuan/t and 260,000-267,000 yuan/t respectively. The ammonium vanadate assessment remained stable at 250,000-255,000 yuan/t. At present, some vanadium alloy companies tried to purchase ammonium vanadate as a replacement as it was hard to purchase vanadium flakes, leading to an increase in its prices. The vanadium flakes market maintained stable, with companies offering at 265,000-275,000 yuan/t. Vanadium powders companies have received more inquiries. Despite less demands from chemical companies, vanadium nitrogen companies tried harder to make purchase which had impact on the market demand and supply.

　　2, Ferrovanadium companies are reluctant to sell at low prices, vanadium nitrogen companies are busy with orders

　　Recently the ferrovanadium market remained firm, with some companies holding positive attitude towards the market. On one hand it was hard to purchase vanadium flakes. On the other hand participants were optimistic about tenders in the next two month. Currently The ferrovanadium assessment unchanged at 270,000-285,000 yuan/t. We understood that it was hard to buy ferrovanadium at prices below 270,000 yuan/t, with producers mainly offering at 275,000-280,000 yuan/t.

　　The vanadium nitrogen market remained stable due to less pressures on inventories and increased production cost. Currently the vanadium nitrogen alloy assessment maintained stable at 405,000-430,000 yuan/t. The price made by steel mills mainly hovered at 410,000-420,000 yuan/t. We learnt that vanadium nitrogen companies were optimistic about the subsequent market but still took cautious about purchasing. Most of companies hope to stabilize the market so as to gain more profit.

　　3, The international ferrovaandium market have seen less high-price quotations

　　The international vanadium market seemed relatively subdued. The European and American market have seen slight adjustment, with producers trying to lower its quotations. The European ferrovanadium assessment fell to $80-80.75/t, while the American fferrovanadium assessment also fell to $39-39.5/t. The European vanadium pentaoxide assessment unchanged at $ 18.5-19 /t.

　　In conclusion, there were some positive factors in the market but producers were still cautious about making purchase, due to fears for high riskes. It is expected that the vanadium market will be strengthened and become brisker as comnpanies will actively participate in tender activities from steel mills.