BEIJING (Asian Metal) 2 Dec 19 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min drop to RMB95,000-98,000/t (USD6.3-6.5/lb V2O5) EXW D/A 180 days, down by RMB1,000/t (USD0.1/lb V2O5) from late last week. As prices of downstream vanadium nitride drop a lot, few buyers would like to make purchase for raw material at high price level. Insiders believe prices of vanadium pentoxide flake would keep dropping accordingly in the coming week.
A consumer in South China noted the current quotation for vanadium pentoxide flake 98%min he received stays at RMB96,000/t (USD6.3/lb V2O5) EXW D/A 180 days and can buy at RMB95,000/t (USD6.3/lb V2O5) for firm bids, down by RMB1,000/t (USD0.1/lb V2O5) from early last week. “We just bought 32t at RMB95,500/t (USD6.3/lb V2O5) last Friday. Though suppliers refuse to accept orders at lower prices, I believe they would have to as prices of downstream vanadium nitride drop a lot,” said the source. He added, “The current price for vanadium nitride has dropped to RMB143,000/t (USD26.4/kg V) EXW D/A 180 days, which means we will loose RMB7,000/t (USD1.3/kg V). To be frank, we lost about RMB20,000,000 (USD2,845 thousand) in total so far this year.” He believes prices of vanadium pentoxide flake 98%min would drop to RMB90,000/t (USD5.9/lb V2O5) in the coming week.
With an annual consumption capacity of 3,500t, they consumed 1,000t in 2018 and have consumed 2,400t so far this year. They consumed 120t in November, down by 30t from October, holding 60t in hand at the moment, unchanged from last month.
A consumer in Northwest China claimed the lowest price for vanadium pentoxide flake 98%min he received stands at RMB95,000/t (USD6.3/lb V2O5) EXW D/A 180 days, down by RMB2,000/t (USD0.1/lb V2O5) from last week. “We can close deal for vanadium nitride at no more than RMB144,000/t (USD26.6/kg V) EXW D/P at the moment and we just sell 20t at this price level last Friday. According to the sales price, we can accept raw material vanadium pentoxide flake 98%min at no more than RMB92,000/t (USD6.1/lb V2O5) EXW D/P now,” said the source. Their last deal was made two weeks ago, when they bought 64t of vanadium pentoxide flake 98%min at RMB98,000/t (USD6.5/lb V2O5) EXW D/A 180 days. He believes prices of this material would drop by RMB2,000/t (USD0.1/lb V2O5) in the coming week.
With an annual consumption capacity of 1,800t, they consumed 1,000t in 2018 and have consumed 1,500t this year. They consumed 100t in November, down by 40t from October, holding 50t of stocks now, down by 30t from last month.
www.asianmetal.com
