BEIJING (Asian Metal) 26 Jun 19 – Currently, mainstream transaction prices for vanadium pentoxide powder 98%min stand at RMB124,000-128,000/t (USD8.21-8.47/ lb V)) EXW D/P, down by RMB1,000/t (USD0.07/ lb V) from last week. Downstream consumers only purchase on immediate demand and the market sees quiet. Considering the weak demand, insiders predict that Chinese vanadium pentoxide powder would keep stable in the following week.
A producer in Hubei revealed that they offer vanadium pentoxide powder 98%min at RMB128,000/t (USD8.47/lb V) EXW D/P now, down by RMB2,000/t (USD0.14/lb V) from last week. He noted, “We signed an order of 10t vanadium pentoxide powder 98%min at RMB130,000/t (USD8.60/lb V). But it is hard to sell at this price this week, and we lower our bottom price a bit to ensure our cooperation with our clients.” He predicted that Chinese vanadium pentoxide powder prices would keep stable in the coming week.
With an annual production capacity of 700t, the company expects to produce 40t in June, equivalent to May, holding 10t in stocks now.
A consumer from Guangdong noted that the quotation for vanadium pentoxide powder 98%min they receive now mainly stands at about RMB128,000/t (USD8.47/lb V) EXW D/P, down by RMB1,000/t (USD0.07/lb V) from last week. He claimed, “We hold stable consumption volume, and we can make purchase at the lowest price of RMB125,000/t (USD8.27/lb V) from our regular supplier. The spot supply is sufficient on the market now, and I think the price is inclined to drop instead of rising in the coming week.” He last purchased 20t of vanadium pentoxide powder 98%min at RMB120,000/t (USD7.94/lb V) in late May. The source will make new purchases in late June.
With an annual consumption capacity of 360t, the consumer expects to use 20t in June, stable from May, holding about 10t in stocks now.
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