BEIJING (Asian Metal) 12 Mar 20 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min keep at RMB91,000-96,000/t (USD6.1-6.4/lb V2O5) EXW D/P, the same as last week. Consumers only make purchase according to urgent need and suppliers are in no hurry to sell at low price level. Insiders believe that mainstream prices would stay in a stalemate in the coming week.
A consumer in North China noted the current price for vanadium pentoxide powder 98%min he received stands at RMB95,000/t (USD6.3/lb V2O5) EXW D/P and they can buy at RMB94,000/t (USD6.3/lb V2O5) for firm bids, unchanged from last week. “We just bought 20t of vanadium pentoxide powder 98%min at RMB94,000/t (USD6.3/lb V2O5) and 20t of vanadium pentoxide powder 99.95%min at RMB120,000/t (USD8.0/lb V2O5) this Monday,” said the soucre. As major producers refuse to drop their quotation to promote sales, he believes that mainstream prices of vanadium pentoxide would stay in a stalemate in the coming week.
With an annual consumption capacity of 600t, they consumed 500t in 2019 and have consumed 80t so far this year. They expect to consume 40t in March, the same as February, holding 40t of stocks now, up by 20t from last month.
A consumer in South China claimes the current price for vanadium pentoxide powder he received stands at RMB96,000/t (USD6.4/lb V2O5) EXW D/P and they can buy at RMB95,000/t (USD6.3/lb V2O5) for firm bids, the same as last week. “Our last deal was made late last week, when we bought 10t at RMB95,000/t (USD6.3/lb V2O5) Delivered D/P,” said the source. Considering the supply situation stays loose, he believes that prices of vanadium pentoxide powder would stay weak in the coming week.
With a consumption capacity of 180tpy, they consumed 150t in 2019 and have consumed 25t so far this year. They consumed 10t in February and expect the same volume in March, holding 10t of stocks now, unchanged from last month.
www.asianmetal.com
