BEIJING (Asian Metal) 15 Nov 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min stand at RMB94,000-98,000/t (USD6.2-6.5/lb V2O5) EXW D/P, up by RMB2,000/t (USD0.1/lb V2O5) from this Wednesday. Suppliers hold their inventory and are in no hurry to sell at low price level. Insiders believe prices of vanadium pentoxide powder would increase slightly in the coming week.
A producer in Hubei quotes their vanadium pentoxide powder 98%min at RMB98,000/t (USD6.5/lb V2O5) EXW D/P and can accept RMB97,000/t (USD6.4/lb V2O5) for firm bids, up by RMB3,000/t (USD0.2/lb V2O5) from this Wednesday. “I received an inquiry for 10t this Wednesady and the buyer wanted to buy at no more than RMB95,000/t (USD6.3/lb V2O5). Considering we have cooperated with them for many times, we agreed with this order,” said the source. He added, “We are in no hurry to sell at the moment as inquiries keep active now.” He believes prices of vanadium pentoxide powder 98%min would increase to RMB100,000/t (USD6.6/lb V2O5) in the coming week.
With an annual production capacity of 600t, they produed 40t in October and expect the same volume in November, holding 15t of stocks now.
A consumer in Fujian claimed the lowest price for vanadium pentoxide powder 98%min he received stands at RMB96,000/t (USD6.3/lb V2O5) EXW D/P, up by RMB3,000/t (USD0.2/lb V2O5) from this Wednesday. “Most producers are increasing their quotaion and it’s hard to find goods below this price level now. According to the feedback of our inquiries, I believe prices of this material would go above RMB100,000/t (USD6.6/lb V2O5) in the coming week.” Their last deal was made early last week, when they bought 5t at RMB92,000/t (USD6.1/lb V2O5).
With an annual consumption capacity of 80t, they consumed 72t in 2018 and have consumed 60t this year. They expect to consume 5t in November, the same with October, holding 5t of regular stocks now, unchanged from last month.
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