BEIJING (Asian Metal) 31 May 23 – In view of the weak demand and dropping raw material prices, Chinese vanadium pentoxide powder 99.5%min producers chose to decline their prices to promote sales and the market mentality maintained negative over the past week. At present, the mainstream prices of Chinese vanadium pentoxide powder 99.5%min stand at RMB122,000-127,000/t (USD7.9-8.2/lb V2O5) EXW D/P, down by RMB3,000/t (USD0.3/lb V2O5) from late last week. Considering that the market could see rare inquiries now, insiders believe that the mainstream prices of Chinese vanadium pentoxide powder 99.5%min would stay weak in the coming week.
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