BEIJING (Asian Metal) 10 Apr 23 – In view of the dropping vanadium alloy prices, Chinese vanadium pentoxide flake 98%min market mentality kept negative during the past week due to lack of effective support from terminal users. Currently, the mainstream prices of Chinese vanadium pentoxide flake 98%min stand at RMB128,000-130,000/t (USD8.6-8.7/lb V2O5) EXW D/P, down by RMB4,000/t (USD0.3/lb V2O5) from early last week. Considering that most buyers prefer to watch the market and the weak mentality continues, insiders believe that the mainstream prices of Chinese vanadium pentoxide flake 98%min would decline further in the coming week.
“Prices of vanadium nitride we inquired dropped to the latest around RMB190,500/t (USD36.3/kg V) delivered D/P, which brought huge dropping pressure on prices of vanadium pentoxide flake 98%min,” said a trader in South China. In order to guarantee their monthly sales volume, they dropped their price from RMB131,000/t (USD8.8/lb V2O5) EXW D/P last week to the current RMB130,000/t (USD8.7/lb V2O5). They just sold 32t of vanadium pentoxide flake 98%min at this price level late last week. Considering that downstream vanadium market couldn’t offer any effective support now, they predict that the mainstream prices of Chinese vanadium pentoxide flake 98%min would by around RMB3,000/t (USD0.2/lb V2O5) in the coming week.
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