Date: Nov 8, 2018
BEIJING (Asian Metal) 8 Nov 18 – At present, mainstream prices of Chinese vanadium pentoxide powder 98%min decrease to RMB496,000-500,000/t (USD33.19-33.45/lb V) Inc-VAT EXW D/A 180 days, down by RMB19,000/t (USD1.27/lb V) from last Friday. Consumers purchase according to urgent need. Considering market demand remains weak, insiders believe prices will keep decreasing in the coming week.
A producer in North China quotes vanadium pentoxide powder 98%min at RMB490,000/t (USD32.78/lb V) Inc-VAT EXW D/P at present, down by RMB20,000/t (USD1.34/lb V) from last Friday. “There has been no demand from our clients recently, and we haven’t made any deal this week. We received an inquiry for 10t from one of our regular clients this Tuesday. However, they only wanted to buy at RMB470,000/t (USD31.45/lb V) Inc-VAT EXW D/P, so we didn’t close the deal,” said the source. He added, some small traders sell stock at low prices at present, but the volume is limited, which would not lead to slump for mainstream prices. Their last deal was made at the end of October, when they sold 10t at RMB510,000/t (USD34.12/lb V) Inc-VAT EXW D/P. He believes the price would decrease by RMB10,000/t (USD0.67/lb V) in the coming week.
