China vanadium alloy prices maintain uptrend on improved sentiment, demand

China's domestic prices of vanadium alloy products including ferro-vanadium and vanadium nitrogen continued to rise, though marginally, in the past week due to improved sentiment amid some positive signs in the downstream steel market, sources told Fastmarkets.

Deals for vanadium nitrogen, for instance, were heard to have been concluded at 152,000 yuan ($21,375) per tonne recently, compared with a transaction price of about 149,000 yuan per tonne as of May 12. Both prices are paid on acceptance and include value-added tax (VAT).
Domestic steel mills' restocking activity, together with their higher procurement prices, in the week either before or after the Labor Day holiday break (May 1-5) helped many alloy producers alleviate their inventories and financial pressure, which led to them becoming reluctant to sell off stocks at hand at lower prices, market sources said.

While end-user demand for steel products has gradually resumed - now that the Covid-19 pandemic is effectively under control in the country - this encouraged domestic mills to procure more volumes of raw materials including alloy...

Published

Amy Lv

May 19, 2020

13:08 GMT

Shanghai