BEIJING (Asian Metal) 5 Nov 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min drop to RMB92,000-96,000/t (USD6.1-6.3/lb V2O5) EXW D/P, down by RMB14,000/t (USD0.9/lb V2O5) from last week. As prices keep dropping, consumers refuse to buy raw material at high price level. Insiders believe prices of vanadium pentoxide powder would drop slightly in the coming week.
A producer in South China quotes their vanadium pentoxide powder 98%min at RMB95,000/t (USD6.3/lb V2O5) EXW D/P and can accept RMB93,000/t (USD6.1/lb V2O5) for firm bids, down by RMB15,000/t (USD1.0/lb V2O5) from last week. “I received an inquiry for 10t this Monday but the buyer only wants to buy at no more than RMB92,000/t (USD6.1/lb V2O5),” said the source. He added, “The buyer wants to pay one month later after they get the goods, so I didn’t accept this order.” Their last deal was made early last week, when they sold 20t at RMB108,000/t (USD7.1/lb V2O5). Considering inquiries are hard to see, he believes prices of vanadium pentoxide powder 98%min would drop to RMB92,000/t (USD6.1/lb V2O5) in the coming week.
With an annual production capacity of 600t, they produed 40t in October and expect 30t in November, holding 15t of stocks now.
A consumer in South China claimed the lowest quotation for vanadium pentoxide powder 98%min he received keeps at RMB92,000/t (USD6.1/lb V2O5) EXW D/P, down by RMB16,000/t (USD1.1/lb V2O5) from last week. “We just bought 10t this Monday at this price level. At first, the supplier quoted at RMB95,000/t (USD6.3/lb V2O5). We shared the dropping trend with them, so they agreed to drop by RMB3,000/t (USD0.2/lb V2O5) to close the deal,” said the source. Considering the supply situation keeps loose, he believes prices of vanadium pentoxide powder 98%min would drop to RMB90,000/t (USD5.9/lb V2O5) in the coming week.
With an annual consumption capacity of 500t, they consumed 480t in 2018 and have consumed 400t this year. They expect to consume 40t in November, the same with October, holding 20t of regular stocks, unchanged from last month.
www.asianmetal.com
