China's Pangang rolls over weekly vanadium guide prices

Chinese state-controlled vanadium producer Panzhihua Iron and Steel (Pangang) rolled over its weekly guide prices today on limited market activity, after it raised its reference price on 25 January on higher buying interest from steel mills.

The company's guide prices were unchanged at 106,000 yuan/t ($32.82/kg) for 50pc ferro-vanadium and Yn156,000/t for 77pc vanadium, 16pc nitrogen grade alloy.

Pangang launched weekly guide prices on 1 August 2016 to stabilise the market. The company adjusts its prices on Monday or Thursday depending on spot market conditions.

Argus assessed prices for 50pc grade alloy at Yn99,000-102,000/t ex-works today, unchanged from 25 January in line with stable pentoxide flake feedstock costs and unchanged offer prices from suppliers on limited demand from the steel sector.

Spot prices for vanadium-nitrogen alloy were stable at Yn148,000-150,000/t ex-works today given limited demand from steel mills and unchanged flake feedstock costs.

A Shaanxi-based vanadium-nitrogen alloy producer has maintained its offer prices in recent days in view of limited spot activity after many steel mills replenished sufficient alloy feedstock inventories in the last few weeks.

Pangang, with an output capacity of 40,000 t/yr, is forecast to produce 42,000t of vanadium in 2020, up by 2.44pc from 41,000t in 2019. China is expected to produce 135,000t of vanadium pentoxide equivalent in 2020, up by 7.48pc from 125,600t in 2019.

Pangang weekly vanadium guide prices Yn/t Date FeV V-N alloy 1-Feb 106,000 156,000 25-Jan 106,000 156,000 18-Jan 102,000 155,000 11-Jan 102,000 155,000 4-Jan 102,000 155,000 28-Dec 102,000 155,000 21-Dec 96,000 146,000 17-Dec 95,000 141,000 14-Dec 93,000 135,000 7-Dec 93,000 135,000 3-Dec 93,000 135,000 30-Nov 91,000 132,000 26-Nov 91,000 132,000 23-Nov 90,000 130,000 16-Nov 90,000 130,000 9-Nov 100,000 145,000 2-Nov 100,000 145,000 26-Oct 100,000 145,000 19-Oct 100,000 145,000 12-Oct 100,000 145,000 21-Sep 108,000 159,000 Source: Pangang

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