Vanadium and titanium market review in June 2023

In June, the price of 10 titanium concentrate in Panxi area stopped falling due to tight supply; Titanium dioxide market demand is weak and the price is weak and stable under the support of cost; The vanadium market rose slightly. In May 2023, the domestic sponge titanium quotation showed a downward trend, and the price execution of the overall market was different. Sponge titanium raw material market prices are high, most manufacturers maintain a wait-and-see attitude, the situation of strong prices is difficult to maintain. At present, the price of magnesium ingot in raw materials has fallen somewhat with the previous price, and the quotation is about $32.4/kgV. (Price trend of Ferro vanadium in June)

From the perspective of China's steel industry PMI, it was 49.9% in June 2023, up 14.7 percentage points from the previous month, ending the decline of the previous three months, and the operation of the steel market has rebounded. Changes in the sub-index show that steel demand has been released in stages, steel production has rebounded, and both ends of supply and demand have improved. Purchasing activity of raw materials has resumed, and prices of raw materials and finished goods have increased. Hainan West Asia Import and Export Group expects that in July, demand or will be under pressure, production will also decline accordingly, raw material prices will fall, steel prices will fall slightly. For more information about China's iron vanadium market, please pay attention to Hainan West Asia Import and Export.