Date: Nov 27, 2018
BEIJING (Asian Metal) 27 Nov 18 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min are RMB477,000-480,000/t (USD31.84-32.04/lb V) Inc-VAT EXW D/A 180 days, down by RMB20,000/t (USD1.33/lb V) from early last week. As the new standard policy for rebar steel was not strictly enforced, steel mills purchased less raw material vanadium products than several monthes before. Although major vanadium pentoxide flake producers try to keep prices steady, they can’t stop the dropping trend of downstream vanadium market. Insiders believe prices of Chinese vanadium pentoxide flake would keep dropping in the coming week.
A consumer in South China claimed that the quote of vanadium pentoxide flake 98%min they received from one of their suppliers is RMB480,000/t (USD32.04/lb V), down by RMB20,000/t (USD1.33/lb V) from last week. “I learned some big producers still quote at RMB500,000/t (USD33.37/lb V), but they couldn’t get new orders. Because prices of downstream rebar dropped, steel mills reduced purchase volume of the raw material vanadium products,” said the source. Considering vanadium products do not sell well, they are in no hury to build stock for raw material vanadium pentoxide flake. Their last deal was made early November, When they bought 60t at RMB510,000/t (USD34.04/lb V). He predicts prices of Chinese vanadium pentoxide flake 98%min would drop by RMB10,000/t (USD0.67/lb V) in the coming week.
