Recently, the domestic vanadium product market has remained relatively stable. Firstly, the inventory pressure of large flake V2O5(98%) factories has been reduced, resulting in a decrease in spot flake V2O5(98%) in circulation. Secondly, the vanadium alloy market is supported by costs, especially the reduced willingness of vanadium-nitrogen enterprises to sell at low prices, which has eased the market trend.

I. The Vanadium Raw Material Market Is Relatively Stable

The flake V2O5(98%) market has not changed much, with most manufacturers quoting at the original price. However, according to market feedback, low-priced spot goods have decreased, with some quotes around 80,000 yuan/ton($5.10/lb) in cash. However, due to cost constraints, high-priced transactions are temporarily more difficult.

The powder V2O5(98%) market is relatively weak, and upstream and downstream enterprises are not actively buying and selling, mostly in a wait-and-see state. However, according to feedback from enterprises, they are not in a hurry to sell their goods.

The ammonium metavanadate market is somewhat stagnant, with few inquiries and some inquiry prices below 73,000 yuan/ton($4.65/lb), but there are not many low-priced spot goods.

II. The Low-priced Spot Goods in the Ferrovanadium Market Have Decreased

The ferrovanadium market is supported by costs, resulting in a decrease in low-priced spot goods. Manufacturers mostly quote based on flake V2O5(98%), with some quotes ranging from 88,000 to 91,000 yuan/ton($24.24-$25.07/kg). According to feedback from manufacturers, low-priced spot goods have decreased, but transactions need to be followed up.

III. Vanadium-nitrogen Alloy Market Is Reluctant to Sell at Low Prices

The bidding price of vanadium-nitrogen alloy for steel mills has been slightly adjusted upwards, with the mainstream market price ranging from 120,000 to 125,000 yuan/ton($21.47-$22.36/kg). The overall inquiries have increased, and the willingness of enterprises to ship at low prices is not strong. From the feedback of enterprises, they are still mostly observing the future.

In summary: At present, the vanadium product market is somewhat stagnant, and manufacturers are choosing to be cautious and wait, but the increase in market inquiries has also affected market development. Now the enthusiasm of traders to enter the market has strengthened, and manufacturers continue to pay attention to the bidding of steel mills and the trend of flake V2O5(98%).