Monthly Vanadium Market Report May 2025

Contents

1. Market Highlights 3
2. Economy and Policy 3
2.1 China and U.Asian Metal Copyright3.Asian Metal CopyrightS. reach deal to scale back tariffs 3
2.2 China strengthens control over export of strategic minerals 3
2.3 China adjusts tariffs on US imports 3
2.4 China acts to curb excessive competition, support private economy 3
2.5 China launches fourth batch of third round of environmental inspections 3
2.6 China's non-oil and gas exploration spending rises for fourth straight year 3
3. Market Movements 3
3.1 Chinese market 3
3.1.1 Ammonium Metavanadate 98%min EXW China 3
3.1.2 Vanadium pentoxide powder 99%min EXW China 3
3.1.Asian Metal Copyright12 CNMC Ningxia to resume normal production of vanadium nitride 5 4.Asian Metal Copyright3 Vanadium pentoxide powder 99.5%min EXW China 3
3.1.4 Vanadium pentoxide flake 98%min EXW China 3
3.1.5 Ferrovanadium 50%min delivered China 3
3.1.6 Vanadium nitride N14%min V77%min delivered China 3
3.2 International Market 4
3.2.1 Ferrovanadium 80%min in warehouse Rotterdam 4
3.2.2 Vanadium pentoxide flake 98%min in warehouse Rotterdam 4
3.2.3 Ferrovanadium 80%min in warehouse Pittsburgh 4
3.2.4 Ferrovanadium 50%min in warehouse Russia 4
4. Company News 4
4.1 Sichuan Dazhou resumed normal production of vanadium pentoxide flake 4
4.2 Chongyang Qingshan to resume vanadium nitride production 4
4.3 Ningbo Shuangneng resumed ammonium metavanadate production 4
4.4 Jiujiang Fanyu expands vanadium nitride production 5
4.5 Shaanxi Fengyuan to resume vanadium nitride production 5
4.6 Hongjiang Fansheng to resume vanadium pentoxide powder 5
4.7 Jinzhou Xinlong to resume ferrovanadium production 5
4.8 Panzhihua Jinli ceased production of vanadium pentoxide flake 5
4.9 Heilongjiang Jianlong resumed normal production of vanadium pentoxide flake 5
4.10 Sichuan Desheng to cut vanadium pentoxide flake output for maintenance 5
4.11 Chaoyang Jinshi plans resumed ammonium polyvanadate production 5
4.12 CNMC Ningxia to resume normal production of vanadium nitride 5
4.13 Short-process vanadium electrolyte project launched in Yanbian, Sichuan 5
5. Producer Statistics 5
5.1 Vanadium pentoxide flake 5
5.1.1 Chinese vanadium pentoxide flake producers' operating rate 5
5.1.2 Chinese vanadium pentoxide flake producers' output 5
5.1.3 Chinese vanadium pentoxide flake producers' inventory 6
5.2 Vanadium pentoxide powder 6
5.2.1 Chinese vanadium pentoxide powder producers' operating rate 6
5.2.2 Chinese vanadium pentoxide powder producers' output 6
5.2.3 Chinese vanadium pentoxide powder producers' inventory 6
5.3 Ammonium metavanadate 6
5.3.1 Chinese ammonium metavanadate producers' operating rate 6
5.3.2 Chinese ammonium metavanadate producers' output 7
5.3.3 Chinese ammonium metavanadate producers' inventory 7
5.4 Ferrovanadium 7
5.4.1 Chinese ferrovanadium producers' operating rate 7
5.4.2 Chinese ferrovanadium producers' output 7
5.4.3 Chinese ferrovanadium producers' inventory 7
5.5 Vanadium nitride 8
5.5.1 Chinese vanadium nitride producers' operating rate 8
5.5.2 Chinese vanadium nitride producers' output 8
5.5.3 Chinese vanadium nitride producers' inventory 8
6. Import and Export Statistics 8
6.1 China's vanadium pentoxide export volume rose 71.46% YoY in Apr 2025 8
6.2 China's wrought vanadium nitride export volume decreased 91.86% YoY in Mar 2025 9
.Asian Metal Copyright3 Chinese vanadium pentoxide powder producers' inventory 6 5Asian Metal Copyright