BEIJING (Asian Metal) 20 Mar 20 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min stand at RMB92,000-96,000/t (USD6.0-6.3/lb V2O5) EXW D/P, unchanged from last week. Most producers are out of production now because of the virus and the market stays calm. Insiders believe that mainstream prices of vanadium pentoxide powder would keep steady in the coming week.
A producer in South China quotes their vanadium pentoxide powder 98%min at RMB93,000/t (USD6.1/lb V2O5) EXW D/P and they can accept RMB92,000/t (USD6.0/lb V2O5) for firm bids, unchanged from last week. “Affected by the virus, we are still out of production now. If anyone would like to buy, we can sell our stocks but prices cannot be lower than our bottom price or we won’t accept any orders,” said the source. Their last deal was made late January, when they sold 20t at RMB95,000/t (USD6.2/lb V2O5). Considering the market stays quiet, he believes that prices of vanadium pentoxide powder 98%min would keep steady in the coming week.
With an annual production capacity of 600t, they produced 500t in 2019 and they were out of production in the first three months this year, holding 30t of stocks at the moment.
A consumer in South China notes the current price for vanadium pentoxide powder 98%min he received stands at RMB95,000/t (USD6.2/lb V2O5) EXW D/P and they can buy at RMB93,000/t (USD6.1/lb V2O5) for firm bids, unchanged from last week. “We prefer to buy high purity vanadium pentoxide powder 99.5%min than 98%min. Our last deal was made early this week, when we bought 1t at RMB120,000/t (USD7.7/lb V2O5) Delivered D/P. Our supplier increased by RMB27,000/t (USD1.8/lb V2O5) on the basis of 98%min,” said the source. They only buy according to urgent need as prices can hardly resbound because of the loosely supply situation. He believes that mainstream prices of vanadium pentoxide powder 98%min would stay weak in the coming week.
With an annual consumption capacity of 100t, they consumed 60t in 2019 and consumed 15t so far this year. They expect to consume 3t in March, down by 2t from February, holding 1t of stock now.
www.asianmetal.com
