Pangang Restarts Vanadium Guide Prices in Response to Market Rebound

Pangang Resumes Weekly Vanadium Guide Prices as Market Rebounds

Pangang, China’s largest vanadium producer, resumed its weekly vanadium guide prices on September 23 after a suspension in mid-June due to declining spot prices. The latest guide price for 50% grade ferro-vanadium is set at 85,000 yuan per ton, while the price for the 77% vanadium and 16% nitrogen alloy stands at 115,000 yuan per ton.

Prior to this, on June 11, the guide price for the 50% grade alloy was 99,000 yuan per ton. Since launching its weekly price updates in August 2016, Pangang has consistently adjusted prices based on market conditions.

Market Reactions to Stimulus Policies Boost Prices

On September 27, alloy market prices began to rise following China’s announcement of new economic stimulus measures. This prompted many alloy smelters to increase their offers due to reduced spot supplies and heightened demand from steel mills ahead of the National Day holiday. Prices for 50% grade ferro-vanadium climbed to 80,000-81,000 yuan per ton, up from 78,000-80,000 yuan the previous day.

Prices for pentoxide flake also increased, reaching 70,500-71,000 yuan per ton as small and medium-sized suppliers adjusted their prices after major producers sold out their September output.

In 2023, Pangang’s vanadium pentoxide equivalent production reached 49,800 tons, a 6.2% increase from 46,900 tons in the previous year. The company has set a production guidance of 44,100 tons for this year and continues to hold significant capacity in titanium concentrate, titanium slag, and titanium dioxide production.