BEIJING (Asian Metal) 18 Jun 20 – Currently, mainstream prices of Chinese vanadium pentoxide powder 98%min stand at RMB106,000-109,000/t (USD6.9-7.1/lb V2O5) EXW D/P, unchanged from early last week. The supply situation in spot market stays tight and few suppliers would like to drop their quotation to promote sales. Considering prices of downstream vanadium products dropped slightly during the past week, insiders believe that mainstream prices of vanadium pentoxide flake 98%min would stay weak in the coming week.
“We sold 27t of vanadium pentoxide powder 98%min at RMB107,400/t (USD7/lb V2O5) EXW D/P late last week,” a producer in South China said. At the moment, they could accept the same price level for firm bids more than 20t. They mainly sell the history stocks at the moment and refuse to accept any orders below their bottom price. Considering inquiries keep calm, he believes that mainstream prices of vanadium pentoxide powder 98%min would keep steady in the coming week.
With an annual production capacity of 1,000t, they produced about 540t in 2019 and only produced about 50t so far this year due to the COVID-19. They are selling the history stocks now, holding about 30t now, down by 30t from last month.
“We sold 10t of vanadium pentoxide powder 98%min at RMB105,000/t (USD6.9/lb V2O5) EXW D/P this Monday and 10t of 99%min at RMB120,000/t (USD7.9/lb V2O5) this Tuesday,” a producer in North China noted. They won’t accept any orders below this price level or would not accept any orders. Their downstream clients are mainly V-Al alloy producer. The fixed sales channel could support their production volume and they are in no hurry to accept new orders at the moment. Considering prices of downstream vanadium products keeps weak, he believes that mainstream prices of vanadium pentoxide powder 98%min would stay weak accordingly.
With an annual production capacity of 960t, they produced about 350t in 2019 and about 120t in the first five months this year. They expect to produce about 60t in June, up by 30t from May, holding about 30t of regular stocks now, unchanged from last month.
www.asianmetal.com
