BEIJING (Asian Metal) 30 Oct 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min dropped to RMB106,000-110,000/t (USD6.9-7.2/lb V2O5) EXW D/P, down by RMB8,000/t (USD0.5/lb V2O5) from late last week. Suppliers are in hurry to reduce their stocks but the demand keeps soft. Insiders believe prices of vanadium pentoxide powder would keep dropping in the coming week.
A consumer in Northeast China noted the current quotation for vanadium pentoxide powder he received stands at RMB110,000/t (USD7.2/lb V2O5) EXW D/P at the moment, down by RMB6,000/t (USD0.4/lb V2O5) from late last week. “We won’t buy raw material in the coming month as prices of downstream vanadium products keep dropping. We are facing high pressure for the history raw material stocks now,” said the source. Their last deal was made late September, when they bought 50t at RMB130,000/t (USD8.5/lb V2O5). Considering the supply situation keeps loose, he believes prices of vanadium pentoxide powder 98%min would drop by RMB5,000/t (USD0.3/lb V2O5) in the coming week.
With an annual consumption capacity of 600t, they consumed 550t in 2018 and have consumed 350t this year. They expect to consume 30t in October, down by 20t from September, holding 40t of stocks now, up by 15t from last month.
A trader in Northwest China claimed the lowest quotation for vanadium pentoxide powder 98%min he received stands at RMB106,000/t (USD6.9/lb V2O5) EXW D/P, down by RMB8,000/t (USD0.5/lb V2O5) from last week. “We used to call suppliers to contact the source of goods. However, they call us voluntarily now,” said the source. Their last deal was made early last week, when they sold 10t at RMB114,000/t (USD7.5/lb V2O5). As upstream suppliers are in hurry to reduce their stocks, he believes prices of vanadium pentoxide powder would drop to RMB100,000/t (USD6.6/lb V2O5) in the coming week.
With a regular trading volume of 30tpm, they sold 300t in 2018 and have sold 180t this year. They expect to sell 20t in October, unchanged from September, holding no stocks now, down by 20t from last month.
www.asianmetal.com
