BEIJING (Asian Metal) 1 May 23 – Due to the dropping vanadium alloy prices and sufficient supply in spot market, Chinese vanadium pentoxide flake 98%min market mentality maintained negative over the past week. Currently, the mainstream prices of Chinese vanadium pentoxide flake 98%min stand at RMB105,000-107,000/t (USD7.1-7.2/lb V2O5) EXW D/P, down by RMB6,000/t (USD0.4/lb V2O5) from early last week. Though more and more traders start to build inventory for long term investment, considering that downstream rebar market couldn’t offer any effective support, insiders believe that the mainstream prices of Chinese vanadium pentoxide flake 98%min would keep moving down in the coming week.
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