Date: Mar 28, 2019
BEIJING (Asian Metal) 28 Mar 19 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min are RMB212,000-215,000/t (USD14.61-14.82/lb V) EXW D/A 180 days, down by RMB5,000/t (USD0.34/lb V) from last week. Considering prices of downstream vanadium products keep dropping and the demand keeps weak, insiders believe prices of vanadium pentoxide flake would drop further in the coming week.
A producer in Southwest China said they have halted quotation at the moment as prices keep dropping. “We signed long term contract with our clients at RMB220,000/t (USD15.16/lb V) EXW D/A 180 days and we are producing for them now. To be honest, we can’t absorb new orders at this price level anymore as prices of downstream vanadium products keep dropping,” said the source. He added, they are one of the main producers in China and they want to keep prices steady according to their market influence. However, it’s hard to prevent market prices from going down. He admitted, their target price is RMB215,000/t (USD14.82/lb V) at the moment and he believes prices of this material would drop by RMB3,000/t (USD0.21/lb V) again in the coming week.
