Vanadium Market Report July 2015
2015-08-19 12:10:24 【Print】
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In July, the Chinese vanadium market performed poorly and the prices kept falling
. As we entered the summer vacation, steel mills began to reduce production for maintenance, so demand for ferrovanadium 50%min and vanadium nitride decreased . Meanwhile, the downstream market remained dim and consumers were in deficit, which forced them into reducing purchase prices for raw materials as much as possible . Therefore, prices for ferrovanadium 50%min and vanadium nitride went down continuously . Prices for ferrovanadium 50%min slid by 4 . 6% in total over July, and those for vanadium nitride saw a decrease of 6% during the month . From mid-July, vanadium pentoxide flake 98%min producers were forced to reduce their prices to compete for deals and recoup money due to the heavy financial pressure they were under. By the end of July, prices for vanadium pentoxide flake 98%min had dropped by RMB5,000/t (USD0.43/lb) compared with early in the month.