BEIJING (Asian Metal) 28 May 19 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min are RMB117,000-120,000/t (USD7.9-8.1/lb V) EXW D/A 180 days, down by RMB2,000/t (USD0.1/lb V) from last week. Major producers unite to stabilize prices. However, considering the demand for downstream vanadium products reduce, insiders believe prices of raw material vanadium pentoxide flake would edge down in the coming week.
A consumer in Northeast China claimes the current quotation he received keeps at RMB120,000/t (USD8.1/lb V) EXW D/A 180 days, down by RMB1,000/t (USD0.1/lb V) from last week. “We buy vanadium pentoxide flake as raw material to produce FeV 50%min. We just bought 90t raw material at RMB120,000/t (USD8.1/lb V) early this week and nearly all major producers offer the same quotation to me now,” said the source. He added, “The current quotation for our ferrovanadium 50%min keeps at RMB125,000/t (USD36.2/kg V) EXW D/P and I know it’s higher than market prices. However, we can’t drop anymore as the cost keeps high.” He believes prices of raw material vanadium pentoxide flake would drop to RMB118,000/t (USD7.9/lb V) in the coming week.
With an annual consumption capacity of 3,400t for vanadium pentoxide flake, the consumer consumed 210t in April and expect the same volume in May, holding 120t of stock now.
A consumer in South China claims the quotation for raw material vanadium pentoxide flake 98%min keeps at RMB120,000/t (USD8.1/lb V) EXW D/A 180 days, down by RMB2,000/t (USD0.1/lb V) from last week. “We buy vanadium pentoxide flake 98%min as raw material to produce vanadium nitride. I tried to communicate with all major producers and they all quote at this price level now,” said the source. Their last deal was made two weeks ago, when they bought 60t at RMB135,000/t (USD9.1/lb V). He added, “Steel mills reduced their purchase volume for vanadium nitride and we can hardly close deal now.” Considering the demand of vanadium nitride keeps weak, he believes prices of raw material would drop by RMB2,000/t (USD0.1/lb V) in the coming week.
With an annual consumption capacity of 1,800t for vanadium pentoxide flake, the consumer consumed 100t in April and expect the same volume in May, holding 100t stock now.
www.asianmetal.com
