Date: Sep 26, 2018
BEIJING (Asian Metal) 26 Sep 18 – Spurred by burgeoning demand, current mainstream prices of vanadium pentoxide flake 98%min jumped to RMB327,000-330,000/t (USD22.02-22.22/lb V) Inc-VAT EXW D/P, up by RMB32,000/t (USD2.16/lb V) from last week. Current supply is far from enough to meet the downstream needs. Large producers strive to stabilize the surging price, but to no avail. Insiders predict that the supply would continue to rise in the coming week.
A South China-based producer claimed, they currently offer vanadium pentoxide flake 98%min at RMB315,000/t (USD21.21/lb V), up by RMB25,000/t (USD1.68/lb V) from last week. He claimed, “We are overwhelmed with orders now. Spot materials would be snapped up once available, even in small volume, as our output is far from enough to meet the increasing demand at present. We do not hope to see the price hiking too fast. However, our efforts to temper the current fever proved futile,” noted the source. They last concluded 30t vanadium pentoxide flake 98%min at RMB290,000/t (USD19.53/lb V) early last week. As the tight supply is unlikely to ease in in the short term, the source believes that the prices would sustain the rising trend in the coming week.
