Why International Vanadium Prices Differ: Ferro Vanadium, V2O5 and China Market

Quick Answer: International vanadium prices can look very different even on the same day because the quotations may not represent the same product, vanadium content, quotation unit, regional market or delivery basis.

A ferrovanadium quotation in USD/kg V, a U.S. quotation in USD/lb and a China domestic quotation in RMB/MT cannot be compared by looking at the numbers alone. The product grade, vanadium-content basis, currency, Incoterm and delivery condition must first be aligned.

For the latest market reference rather than pricing methodology, see our international vanadium pentoxide price update.

The first reason international vanadium prices appear different is that different markets and products use different quotation units.

This means a price such as USD 26/kg V should not be compared directly with USD 15/lb or RMB 75,000/MT. The unit and calculation basis must first be converted to the same commercial basis.

Vanadium products with different grades are not interchangeable price references. The vanadium content, impurity limits and physical form can all change the value of the material.

For V2O5, you can compare purity and chemistry in our vanadium pentoxide purity and specification guide.

If physical form is part of the comparison, see our V2O5 flake vs powder guide.

Europe, the United States and China have their own regional transaction levels. The same vanadium product can therefore trade at different prices in each market even after the units are converted.

The difference can reflect local supply, inventory, downstream steel and alloy demand, purchasing activity, delivery conditions and the availability of material within that region.

Regional quotation habits also matter. One market may report a transaction reference based on contained vanadium, while another may report the value of the finished alloy or oxide product.

For China-specific market information, see our China vanadium price market.

International vanadium references and China domestic prices represent different transaction systems. Neither should be copied directly into an export quotation.

A China domestic price can help show the local cost level, while an international reference can show the regional market direction. The actual export offer still has to be calculated separately.

The same batch of ferrovanadium or V2O5 can have several correct export prices because different Incoterms include different costs.

A FOB Tianjin quotation and a CIF quotation to another country should therefore not be expected to show the same price even when the product specification is identical.

Export prices can also change without a major movement in the underlying vanadium market.

This is why two suppliers can quote the same grade on the same day and still produce different FOB or CIF offers.

V2O5 is an upstream vanadium-bearing material used in ferrovanadium production, so changes in V2O5 cost can affect the production cost of ferrovanadium.

However, ferrovanadium does not move mechanically with V2O5. The final FeV market price is also affected by steel demand, alloy inventory, plant quotations, regional transactions and order conditions.

For the current V2O5 market reference, see our international V2O5 price update.

If you are sourcing ferrovanadium, see our ferro vanadium product range.

Consider two ferrovanadium offers:

The numerical prices alone do not tell you which quotation is lower. Before comparing them, align the product grade, contained vanadium, quotation unit, delivery basis, quantity and freight.

This page explains the pricing mechanism rather than providing a fixed current market price.

For the latest international V2O5 reference, see our International Vanadium Pentoxide Price.

For China domestic vanadium market information, see our China Vanadium Price Market.