According to a major vanadium maker, the latest vanadium market situation (June-July) is facing a market price drop due to oversupply.
In China, the biggest vanadium consumer in the world, the demand of steel industry (which needs vanadium the most) and the public constructions are being dull due to the control on real estate investment.
As a result, the sales of rebar and the demand of vanadium decreased.
Also, at first, the supply of vanadium products in Russia was supposed to decrease because the international demand of vanadium slag (raw material of vanadium products) decreases due to the problem between Russia and Ukraine.
However, the supply of vanadium slag is growing and the market status is still with the oversupply to other countries.
The market price of vanadium products is decreasing since April as listed below. If the reduction of demand in steel industry and the oversupply of vanadium slag made in Russia keep going on, more decline of vanadium price can be expected.
【Reference of the market prices】
・Vanadium pentoxide：April USD10.325/lb → July USD7.205/lb
・Ferrovanadium：April USD54.5/lb → July USD36/lb