BEIJING (Asian Metal) 8 Jan 20 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min stand at RMB90,000-94,000/t (USD6.0-6.3/lb V2O5) EXW D/P, the same as last week. Most suppliers face high pressure to reduce their stocks and the market keeps quiet. Insiders believe that prices of vanadium pentoxide powder would stay weak in the coming week.
A producer in Sichuan quotes their vanadium pentoxide powder 98%min at RMB94,000/t (USD6.3/lb V2O5) EXW D/P and they can accept RMB92,000/t (USD6.0/lb V2O5) for firm bids, unchanged from last week. “Our clients mainly concentrate in Hubei area and they need to consume everyday. Though few of them would like to build stock at the moment, I believe prices would keep steady in the coming week for the high production cost,” said the source. Their last deal was made early last week, when they sold 20t at RMB92,000/t (USD6.0/lb V2O5). They are in no hurry to accept new orders now and they prefer to watch the market before the Spring Festival.
With an annual production capacity of 1,200t, they produced 70t in last December and expect 50t in January for the winter cold weather, holding 20t of stocks now.
A producer in Hubei mentioned their vanadium pentoxide powder 98%min at RMB92,000/t (USD6.0/lb V2O5) EXW D/P and they can accept RMB91,000/t (USD6.1/lb V2O5) for firm bids, the same as last week. “We are selling the stocks now. We have been out of production for half a month and we won’t reproduce before February 8 as the weather keeps cold, which would affect the recovery rate,” said the source. He added, “I received an inquiry this Monday for 10t but the buyer only wanted to buy at no more than RMB90,000/t (USD6.0/lb V2O5).” Their last deal was made three weeks ago, when they sold 30t at RMB94,000/t (USD6.3/lb V2O5). He believes that prices of vanadium pentoxide powder 98%min would stay weak in the coming week.
With an annual production capacity of 600t, they produced 40t in last December and expect no volume in January, holding 30t of stocks now.
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