Ferrovanadium FeV50 and FeV80 Price Summary: Major Chinese Markets, September 7 2023
Leave a message
Ferrovanadium FeV50 and FeV80 Assessed Across Major Chinese Markets
On September 7, 2023 the Chinese domestic ferrovanadium market was assessed as steady. Both of the actively traded grades, FeV50 and FeV80, were reported inside ranges that repeated the previous assessment day, and no region posted a day-on-day movement. All values in this article are quoted in units of 10,000 CNY per metric ton, tax included, on a settlement basis of bank acceptance bill.
The FeV50 range was assessed uniformly at 10.7-11.0 for mainstream transactions and 10.8-11.0 for mainstream quotations across Panzhihua in Sichuan, Jinzhou in Liaoning, Xinyu in Jiangxi, and Hubei, Hebei, Henan, Hunan and Jiangsu. The uniformity is itself the signal: when eight separate regional markets print the same range on the same day, regional arbitrage has closed and supply is matching mill demand at a common clearing level.
Table 1: FeV50 (nominal 50% V), September 7, 2023
| Market / Region | Mainstream transactions (x10,000 CNY/t) | Change | Mainstream quotation (x10,000 CNY/t) | Change | Settlement |
|---|---|---|---|---|---|
| Panzhihua, Sichuan | 10.7-11.0 | -- | 10.8-11.0 | -- | Bank acceptance |
| Jinzhou, Liaoning | 10.7-11.0 | -- | 10.8-11.0 | -- | Bank acceptance |
| Xinyu, Jiangxi | 10.7-11.0 | -- | 10.8-11.0 | -- | Bank acceptance |
| Hubei | 10.7-11.0 | -- | 10.8-11.0 | -- | Bank acceptance |
| Hebei | 10.7-11.0 | -- | 10.8-11.0 | -- | Bank acceptance |
| Henan | 10.7-11.0 | -- | 10.8-11.0 | -- | Bank acceptance |
| Hunan | 10.7-11.0 | -- | 10.8-11.0 | -- | Bank acceptance |
| Jiangsu | 10.7-11.0 | -- | 10.8-11.0 | -- | Bank acceptance |
The transaction range sits slightly below the quotation range in every region, which is the normal shape of a balanced market: sellers post offers at the top of the band, buyers conclude inside it. A spread that widens sharply without a matching move in transactions usually means sellers are testing the market rather than that price has genuinely risen.
Table 2: FeV80 (nominal 80% V) in Jinzhou, September 7, 2023
| Market / Region | Mainstream transactions (x10,000 CNY/t) | Change | Mainstream quotation (x10,000 CNY/t) | Change | Settlement |
|---|---|---|---|---|---|
| Jinzhou, Liaoning | 17.12-17.6 | -- | 17.28-17.6 | -- | Bank acceptance |
Reading the FeV50 to FeV80 Spread
The two grades are not priced on a simple multiple of vanadium content. FeV80 carries about 80% vanadium against roughly 50% for FeV50, but its quoted level of 17.12-17.6 is less than double the FeV50 level of 10.7-11.0. The gap captures the extra vanadium units plus the refining cost needed to reach the higher content, and it is further influenced by the smaller pool of producers able to make the high grade. For a steelworks, the trade-off is straightforward: FeV80 introduces more vanadium per tonne of charge and less iron pickup, which matters when the heat has a tight iron balance; FeV50 is more widely available and easier to source at short notice.
Grades and Standards
| Grade | Nominal V content | Typical use |
|---|---|---|
| FeV40 | about 40% | General steel alloying where lower-cost vanadium units are acceptable |
| FeV50 | about 50% | Most traded grade; microalloyed rebar, HSLA plate and structural steel |
| FeV60 | about 60% | Higher-yield alloying for demanding steel chemistries |
| FeV80 | about 80% | High vanadium yield with lower iron pickup; special steels and titanium-alloy routes |
Composition limits for vanadium, carbon, silicon, aluminium, phosphorus and sulphur are specified in China by GB/T 4139. For international trade, ASTM A102 and ISO 5451 are the references normally cited for ferrovanadium specification and delivery conditions. A purchase specification should name the grade, the vanadium content tolerance and the individual impurity ceilings, because the ceilings determine the largest addition that can be made without disturbing the steel chemistry.
Why Vanadium Matters in Steel
Vanadium is a strong carbide and nitride former and one of the most cost-effective microalloying additions available to a steelmaker. Added at roughly 0.02% to 0.15%, it works through two mechanisms. Precipitation strengthening occurs when fine vanadium carbonitride particles form during rolling and cooling. Grain refinement occurs when vanadium nitride particles pin austenite grain boundaries during hot working, leaving a finer and tougher final microstructure. Together they deliver higher strength with lower alloy cost and better weldability than a heavier addition of a weaker strengthener.
Typical consuming products include HRB400 and HRB500 high-strength rebar produced to GB/T 1499.2, HSLA structural plate, linepipe steel, spring steel, vanadium-alloyed tool and die steels, and high-grade cast irons. The practical lever for a buyer is that specifying the correct grade lets the strength target be met with the smallest vanadium addition, which is the main controllable element of alloy cost.
Purchasing Checklist
Grade and chemistry: state FeV40, FeV50, FeV60 or FeV80, the vanadium tolerance and the impurity limits, referencing GB/T 4139, ASTM A102 or ISO 5451.
Size and packaging: confirm lump size, typically 10-50 mm, or the powder mesh required, plus moisture-protected jumbo bags or steel drums of a stated net weight.
Verification: arrange independent sampling and chemical analysis by an accredited laboratory and agree the acceptance criteria in advance.
Settlement terms: acceptance-bill and cash terms produce different effective prices, so fix the basis in the contract rather than at invoice.
Timeliness: ferrovanadium is assessed daily against feedstock cost and mill buying, so any reference figure has to be re-checked before it is used in a live negotiation.
Frequently Asked Questions
Q: What were FeV50 prices in China on September 7, 2023?
Mainstream transactions were assessed at 10.7-11.0 and mainstream quotations at 10.8-11.0, in units of 10,000 CNY per metric ton, tax included, on a bank acceptance bill basis.
Q: What was the FeV80 level on the same date?
FeV80 in Jinzhou was assessed at 17.12-17.6 for mainstream transactions and 17.28-17.6 for mainstream quotations, with no day-on-day change reported.
Q: Why is FeV80 less than twice the price of FeV50?
The spread reflects the extra vanadium units plus refining cost, not a straight content multiple, and it also reflects the narrower producer base for the higher grade.
Q: Which regions were covered by the FeV50 assessment?
Panzhihua, Jinzhou, Xinyu, Hubei, Hebei, Henan, Hunan and Jiangsu, all of which printed the same range on the assessment date.
Q: Which standards apply to ferrovanadium?
GB/T 4139 in China, with ASTM A102 and ISO 5451 normally cited for international specification and delivery conditions.
Q: Are these 2023 assessments still valid as current prices?
No. They are historical reference ranges. Ferrovanadium moves with feedstock cost and mill purchasing, so a current assessment is needed for any new contract.
