Vanadium Market Report August 2016
2016-10-28 16:40:50 【Print】
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In August, prices for Chinese vanadium products surged all the way up. As producers continuously raised their prices for vanadium pentoxide flake 98%min, downstream consumers for ferrovanadium and vanadium nitride faced increasing production costs and therefore had to lift their prices too. As a result, steel mills, which wanted to maintain normal production, were forced to accept the increased prices for vanadium products. By the end of August, prices for Chinese ferrovanadium 50%min, vanadium nitride and vanadium pentoxide flake 98% went up by 10.9%, 11.9% and RMB5,000/t over early August respectively.
In August, China’s export market was stagnant with few trading activities. Overseas consumers were either in summer leave or shut down for equipment maintenance, showing low interests to purchase; moreover, as prices in the domestic market were surging up, export prices for Chinese vanadium products rose too, resulting in limited transactions in the market. Only few overseas consumers who purchased the material from hand to mouth in the spot market as most consumers merely conducted purchase through long-term contracts.
In August, China’s export market was stagnant with few trading activities. Overseas consumers were either in summer leave or shut down for equipment maintenance, showing low interests to purchase; moreover, as prices in the domestic market were surging up, export prices for Chinese vanadium products rose too, resulting in limited transactions in the market. Only few overseas consumers who purchased the material from hand to mouth in the spot market as most consumers merely conducted purchase through long-term contracts.
