BEIJING (Asian Metal) 24 Dec 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min keep at RMB90,000-94,000/t (USD5.9-6.2/lb V2O5) EXW D/P, down by RMB3,000/t (USD0.2/lb V2O5) from last week. Consumers only make purchase according to urgent need and the demand keeps soft. Insiders believe that prices of vanadium pentoxide powder would edge down in the coming week.
A trader in Northeast China quotes their bottom price for vanadium pentoxide powder 98%min at RMB92,000/t (USD6.1/lb V2O5) EXW D/P, down by RMB3,000/t (USD0.2/lb V2O5) from one week ago. “Our last deal was made last Friday, when we sold 40t at RMB92,000/t (USD6.1/lb V2O5),” said the source. He added, “Our regular clients refuse to buy at higher price level as the market of their downstream vanadium products stays in a stalemate now.” He believes that prices of vanadium pentoxide powder 98%min would drop to RMB90,000/t (USD5.9/lb V2O5) in the coming week.
With a regular trading volume of 40tpm, they expect to sell 40t in December, the same as last month, holding no stock now, reduced by 20t from November.
A trader in Northwest China noted the current price for vanadium pentoxide powder 98%min he heceived stands at RMB92,000/t (USD6.1/lb V2O5) EXW D/P, down by RMB3,000/t (USD0.2/lb V2O5) from last week. “We have 30t of stocks now when we bought at RMB200,000/t (USD13.2/lb V2O5) and it’s impossible for us to sell out now,” said the source. He added, “We would consider to build some new stock at RMB90,000/t (USD5.9/lb V2O5) in near term and our supplier agreed to supply 10t to us.” He believes that prices of vanadium pentoxide powder 98%min would stay at RMB90,000/t (USD5.9/lb V2O5) in the coming week.
With a regular trading volume of 30t, they sold 30t in November and expect to sell 20t in December, holding 32t of stocks now.
www.asianmetal.com
