BEIJING (Asian Metal) 10 Apr 20 – At present, 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, unchanged from last week. Consumers only make purchase according to urgent need and the market demand stays calm. Most suppliers are watching the market now and insiders believe that prices of vanadium pentoxide flake 98%min would stay in a stalemate in the coming week.
A consumer in Liaoning notes the current prices for vanadium pentoxide flake 98%min they received stand at around RMB96,000/t (USD6.3/lb V2O5) EXW D/A 180 days and could buy at RMB94,000/t EXW D/P for firm bids, the same as last week. “We bought 32t at RMB94,000/t (USD6.2/lb V2O5) EXW D/P early this week for urgent need,” said the source. They would deliver 30t of ferrovanadium 50%min to their steel mill client within this month. He added, “We could sell ferrovanadium 50%min at most for RMB96,000/t (USD27.2/kg V) EXW D/P, which is only RMB2,000/t (USD0.6/kg V) above prices of raw material. In normal, we need guarantee at least RMB6,000/t (USD1.7/kg V).” Considering major suppliers refuse to drop their quotation, he believes that mainstream prices of vanadium pentoxide flake 98%min would keep steady in the coming week.
With a consumption capacity of 3,600tpy, they consumed about 1,800t in 2019 and consumed about 300t so far this year. They expect to consume 50t in April, down by 50t from March for lack of orders, holding about 40t of stocks now.
Another producer in Liaoning claims the current price for vanadium pentoxide flake 98%min he received stands at around RMB96,000/t (USD6.3/lb V2O5) EXW D/A 180 days, unchanged from last week. “We only buy according to urgent need and we are consuming the history inventory now,” said the source. Their last deal was made two weeks ago, when they bought 64t at RMB96,000/t (USD6.3/lb V2O5). Considering prices of downstream ferrovanadium stay weak, he believes that mainstream prices of vanadium pentoxide flake 98%min would stay in a stalemate in the coming week.
With an annual consumption capacity of 2,400t, they consumed about 2,000t in 2019 and consumed about 450t so far this year. They consumed about 160t in March and expect 200t in April, holding about 80t of stocks at the moment.
www.asianmetal.com
