<article><p class="lead">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. </p><p>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. </p><p>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.</p><p><i>Argus</i> 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.</p><p>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.</p><p>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.</p><p>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.</p><p><table class='tbl-excel'><tr><td class='tbl-header'>Pangang weekly vanadium guide prices </td><td class='tbl-header'></td><td class='tbl-header tbl-right tbl-italic'>Yn/t</td></tr><tr><td class='tbl-columnheader tbl-bold tbl-left'>Date</td><td class='tbl-columnheader tbl-bold tbl-center'>FeV </td><td class='tbl-columnheader tbl-bold tbl-center'>V-N alloy </td></tr><tr><td class='tbl-left'>1-Feb</td><td class='tbl-right'>106,000</td><td class='tbl-right'>156,000</td></tr><tr><td class='tbl-left'>25-Jan</td><td class='tbl-right'>106,000</td><td class='tbl-right'>156,000</td></tr><tr><td class='tbl-left'>18-Jan</td><td class='tbl-right'>102,000</td><td class='tbl-right'>155,000</td></tr><tr><td class='tbl-left'>11-Jan</td><td class='tbl-right'>102,000</td><td class='tbl-right'>155,000</td></tr><tr><td class='tbl-left'>4-Jan</td><td class='tbl-right'>102,000</td><td class='tbl-right'>155,000</td></tr><tr><td class='tbl-left'>28-Dec</td><td class='tbl-right'>102,000</td><td class='tbl-right'>155,000</td></tr><tr><td class='tbl-left'>21-Dec</td><td class='tbl-right'>96,000</td><td class='tbl-right'>146,000</td></tr><tr><td class='tbl-left'>17-Dec</td><td class='tbl-right'>95,000</td><td class='tbl-right'>141,000</td></tr><tr><td class='tbl-left'>14-Dec</td><td class='tbl-right'>93,000</td><td class='tbl-right'>135,000</td></tr><tr><td class='tbl-left'>7-Dec</td><td class='tbl-right'>93,000</td><td class='tbl-right'>135,000</td></tr><tr><td class='tbl-left'>3-Dec</td><td class='tbl-right'>93,000</td><td class='tbl-right'>135,000</td></tr><tr><td class='tbl-left'>30-Nov</td><td class='tbl-right'>91,000</td><td class='tbl-right'>132,000</td></tr><tr><td class='tbl-left'>26-Nov</td><td class='tbl-right'>91,000</td><td class='tbl-right'>132,000</td></tr><tr><td class='tbl-left'>23-Nov</td><td class='tbl-right'>90,000</td><td class='tbl-right'>130,000</td></tr><tr><td class='tbl-left'>16-Nov</td><td class='tbl-right'>90,000</td><td class='tbl-right'>130,000</td></tr><tr><td class='tbl-left'>9-Nov</td><td class='tbl-right'>100,000</td><td class='tbl-right'>145,000</td></tr><tr><td class='tbl-left'>2-Nov</td><td class='tbl-right'>100,000</td><td class='tbl-right'>145,000</td></tr><tr><td class='tbl-left'>26-Oct</td><td class='tbl-right'>100,000</td><td class='tbl-right'>145,000</td></tr><tr><td class='tbl-left'>19-Oct</td><td class='tbl-right'>100,000</td><td class='tbl-right'>145,000</td></tr><tr><td class='tbl-left'>12-Oct</td><td class='tbl-right'>100,000</td><td class='tbl-right'>145,000</td></tr><tr><td class='tbl-left'>21-Sep</td><td class='tbl-right'>108,000</td><td class='tbl-right'>159,000</td></tr><tr><td class='tbl-footer tbl-right tbl-italic'>Source: Pangang</td></tr></table></article>