BEIJING (Asian Metal) 11 Jun 19 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min are RMB122,000-125,000/t (USD8.2-8.4/lb V) EXW D/A 180 days, up by RMB5,000/t (USD0.3/lb V) from last week. Most consumers prepare to build stock and the supply keeps tight. Insiders believe prices of this material would increase further in the coming week.
A consumer in Liaoning claimes the current quotation he received has increased to RMB125,000/t (USD8.4/lb V) EXW D/A 180 days, up by RMB5,000/t (USD0.3/lb V) from last week. “Major producers have no products in spot market now, though they insist on RMB120,000/t (USD8.0/lb V), it has no meaning for us. We just bought 60t at RMB125,000/t (USD8.4/lb V) early this week. I heard some supplier has increased their quotation higher than this level now,” said the source. He believes prices of vanadium pentoxide would touch RMB130,000/t (USD8.7/lb V) in the coming week.
With an annual consumption capacity of 2,400t for vanadium pentoxide flake, the consumer consumed 120t in May and expects the same volume in June, holding 60t of inventory now.
Another consumer in Liaoning claimes the quotation for vanadium pentoxide flake 98%min he received stands at RMB130,000/t (USD8.7/lb V) EXW D/A 180 days now and can buy at RMB125,000/t (USD8.4/lb V) for firm bids, up by RMB6,000/t (USD0.4/lb V) from last week. “We buy vanadium pentoxide flake as raw material to produce ferrovanadium. As the cost increased suddenly, we have to increase our quotation for ferrovanadium 50%min to RMB135,000/t (USD39.0/kg V),” said the source. Their last deal was made two weeks ago, when they bought 90t of vanadium pentoxide 98%min at RMB119,000/t (USD8.0/lb V). Considering the demand of overseas market is growing, he believes prices of vanadium pentoxide 98%min would increase by RMB5,000/t (USD0.3/lb V) in the coming week.
With an annual consumption capacity of 2,400t for vanadium pentoxide flake, they consumed 150t in May and expect the same volume in June, holding 100t of inventory now.
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