BEIJING (Asian Metal) 24 May 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min are RMB118,000-121,000/t (USD7.9-8.1/lb V) EXW D/P, down by RMB9,000/t (USD0.6/lb V) from last week. Considering the demand keeps weak, insiders believe prices of this material would keep dropping in the coming week.
A producer in South China quotes their vanadium pentoxide powder 98%min at RMB123,000/t (USD8.2/lb V) EXW D/P and can sell at RMB121,000/t (USD8.1/lb V) for firm bids at the moment, down by RMB9,000/t (USD0.6/lb V) from last week. “Inquiries are hard to see now and we have to reduce our production for 40%. I believe prices would drop by RMB5,000/t (USD0.3/lb V) in the coming week,” said the source. Their last deal was made early last week, when they sold 8t at RMB130,000/t (USD8.7/lb V).
With an annual production capacity of 600t for vanadium pentoxide powder, the producer produced 30t in April and expects 18t in May, holding 5t of stock now.
A consumer in Northeast China claims the quotation for vanadium pentoxide powder 98%min he received has drop to RMB120,000/t (USD8.0/lb V) EXW D/P now, down by RMB10,000/t (USD0.7/lb V) from last week. “I don’t think prices would keep steady at the current level as there are too much products in spot market. Acturally, I would like to buy at no more than RMB115,000/t (USD7.7/lb V). Though no producers would like to accept now, I believe prices of this material would drop to this level in the coming week,” said the source. Their last deal was made early this month, when they bought 30t at RMB160,000/t (USD10.7/lb V).
With an annual production capacity of 480t for vanadium pentoxide powder, the consumer consumed 30t in April and expects the same volume in May, holding 15t of stock now.
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