BEIJING (Asian Metal) 24 Oct 19 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min stand at RMB118,000-121,000/t (USD7.7-7.9/lb V2O5) EXW D/A 180 days, down by RMB5,000/t (USD0.3/lb V2O5) from last week. Suppliers who have stocks are in hurry to promote sales but consumers only make purchase according to urgent need. Considering the demand keeps soft, insiders believe prices of vanadium pentoxide flake would drop slightly in the coming week.
A consumer in Northwest China noted the current quotation for vanadium pentoxide flake 98%min he received stands at RMB116,000/t (USD7.6/lb V2O5) EXW D/P and can buy at RMB115,000/t (USD7.5/lb V2O5) for firm bids, down by RMB6,000/t (USD0.4/lb V2O5) from last week. “Prices of vanadium nitride dropped from RMB200,000/t (USD36.7/kg V) to RMB180,000/t (USD33.0/kg V) during the past two weeks. According to our vanadium nitride orders, we can at most accept at no more than RMB115,000t (USD7.5/lb V2O5) for vanadium pentoxide flake 98%min at the moment,” said the source. Their last deal was made two weeks ago, when they bought 60t of vanadium pentoxide flake 98%min at RMB128,000/t (USD8.4/lb V2O5). He believes prices of vanadium pentoxide flake 98%min would drop by RMB3,000/t (USD0.2/lb V2O5) in the coming week.
With an annual consumption capacity of 1,700t, they consumed 1,550t in 2018 and have consumed 1,150t this year. They except to consume 120t in October, unchanged from September, holding 60t of stocks now, unchanged from last month.
A trader in South China quotes their vanadium pentoxide flake 98%min at RMB118,000/t (USD7.7/lb V2O5) EXW D/P and can accept RMB116,000/t (USD7.6/lb V2O5) for firm bids, down by RMB5,000/t (USD0.3/lb V2O5) from last week. “Our last deal was made early last week, when we sold 30t at RMB121,000/t (USD7.9/lb V2O5). As inquiries are hard to see at the moment, we have to drop price to absorb new orders,” said the source. Considering prices of downstream vanadium products keep dropping, he believes prices of vanadium pentoxide flake 98%min would drop to RMB114,000/t (USD7.5/lb V2O5) in the coming week.
With a regular trading volume of 60tpm, they sold 500t in 2018 and have sold 350t this year. They expect to sell 50t in October, down by 10t from September. They have 20t of stocks now, unchanged from late last month.
www.asianmetal.com
