BEIJING (Asian Metal) 18 Mar 20 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min stay at RMB93,000-96,000/t (USD6.1-6.3/lb V2O5) EXW D/A 180 days, the same as last week. Though downstream demand stays weak, major producers refuse to drop their quotation due to lack of competition in domestic market. Insiders believe that mainstream prices of Chinese vanadium pentoxide flake would keep steady in the coming week.
A trader in South China quotes their vanadium pentoxide flake 98%min at RMB93,500/t (USD6.2/lb V2O5) EXW D/P and they can accept RMB93,000/t (USD6.1/lb V2O5) for firm bids, the same as last week. “Our last deal was made late last week, when we bought 30t at RMB92,000/t (USD6.1/lb V2O5). We must guarantee at least RMB1,000/t (USD0.1/lb V2O5) for basic profit margin then we would consider to accept orders,” said the source. He added, “Major producers in China all insist on RMB96,000/t (USD6.3/lb V2O5) EXW D/A 180 days now. They won’t drop their quotation unless international resources could import to China.” He believes that mainstream prices of Chinese vanadium pentoxide flake 98%min would keep steady in the coming week.
With a regular trading volume of 60tpm, they sold 700t in 2019 and have sold 200t so far this year. They didn’t sell in February due to the virus and expect to sell 60t in March, holding 100t of stocks now, up by 40t from last month.
Another trader in South China notes the current price for vanadium pentoxide flake 98%min he received stands at RMB92,000/t (USD6.1/lb V2O5) EXW D/P, unchanged from last week. “Prices in China are much higher than international market now. I received 40t of orders from our overseas client but the buyer only wanted to buy at no more than USD5.5/lb V2O5 FOB China,” said the source. He added, “Prices of downstream ferrovanadium 80%min have dropped to USD24.5/kg V now, down by USD1/kg V from last week.” Considering prices in China are much higher than international market, they only make purchase according to orders. He believes that mainstream prices of Chinese vanadium pentoxide flake 98%min would stay firm at RMB92,000/t (USD6.1/lb V2O5) EXW D/P in the coming week.
With a regular trading volume of 40tpm, they didn’t close deal in February because of the virus and expect to sell 40t in March, holding no stocks now, unchanged from last month.
www.asianmetal.com
