Chinese vanadium market quiet

Currently Chinese vanadium market keeps quiet with the price in the range of RMB125,000-130,000/t (USD36-37/kg) for ferrovanadium 50% and RMB115,000-125,000/t (USD7.61-8.27/lb) for vanadium pentoxide flake 98%.
AsiA Sichuan-based producer with a production capacity of 150tpm reported that at present Chinese vanadium market remains quiet with few deals concluded. According to the source, although some offered above RMB130,000/t for ferrovanadium 50%, few deals were concluded in domestic market.
"The main problem is there is no demand in the market, so no matter what the offers are, it is still difficulty for us to sell materials," said the source. The smelter has suspended production since early this month.
The source heard that a major Chinese producer sold 20t of ferrovanadium 80% at USD46/kg d.u.in warehouse Rotterdam last week. "I think this week the price of the material will go down to below USD45.0/kg d.u.in warehouse Rotterdam," said the source. "European buyers prefer to purchase vanadium for prompt delivery rather than those materials for prompt shippment."
A Shaanxi-based producer with the current output of 100tpm confirmed the weak demand in the market. Although the source offered RMB120,000/t (USD7.94/lb) for vanadium pentoxide flake 98%, they concluded no deals recently. "The market seems to be more stable than that of a week ago, but I think the market will continue to go down in the near future due to the low demand," said the source.
The source added that they offered USD10.0/lb CIF Rotterdam for vanadium pentoxide flake 98%, but they has no new orders from foreign buyers.