BEIJING (Asian Metal) 6 Jul 20 – Currently, mainstream prices of European vanadium pentoxide flake 98%min stand at USD5.1-5.4/lb V2O5 in warehouse Rotterdam, down by USD0.2/lb V2O5 from one week ago. Both the supply and demand keep calm now due to the COVID-19. Considering the summer holiday is coming, insiders believe that mainstream prices of European vanadium pentoxide flake 98%min would keep weak in the coming week.
“We quote USD5.5/lb V2O5 in warehouse Rotterdam during the past week but no buyers would like to purchase at more than USD5.3/lb V2O5 now,” a trader in Middle Europe said. In order to promote sales, they could accept USD5.3/lb V2O5 but the quantity should be at least 20t. Due to the COVID-19, their regular clients only purchase according to urgent need and they only received one inquiry for 20t during the past two weeks. As the demand stays soft, he believes that mainstream prices of European vanadium pentoxide flake 98%min would keep weak in the coming week.
With a regular trading volume of 120tpm for vanadium pentoxide flake, their could only sell about 60tpm during the past three months and expect no more than 60t in July due to the COVID-19, holding about 40t of stocks now, the same as last month.
“We quote USD5.5/lb V2O5 in warehouse Rotterdam during the past week but in order to promote sales, we would like to sell at USD5.4/lb V2O5 for firm bids regardless of the purchase volume,” another trader in Middle Europe said. He heard some small traders sell at lower prices in Europe but major suppliers including them all refuse to break this bottom price at the moment. Considering inquiries in spot market stay rare, he believes that mainstream prices of European vanadium pentoxide flake 98%min would keep soft in the coming week.
With a regular trading volume of 300tpm for vanadium pentoxide flake, they expect to sell 200t in July, unchanged from June. They would hold about 100t as regular stocks, the same as last month.
www.asianmetal.com
