BEIJING (Asian Metal) 29 May 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min are RMB117,000-120,000/t (USD7.8-8.0/lb V) EXW D/P, down by RMB1,000/t (USD0.1/lb V) from last week. Though the demand keeps weak, considering prices have dropped to the cost line, most producers refuse to drop their quotation again. Insiders believe prices of this material would keep steady in the coming week.
A producer in South China quotes their vanadium pentoxide powder 98%min at RMB121,000/t (USD8.1/lb V) EXW D/P and can sell at RMB120,000/t (USD8.0/lb V) for firm bids now, down by RMB1,000/t (USD0.1/lb V) from last week. “Inquiries are hard to see at the moment. We didn’t produce in May. We would rather to hold the inventory if prices are lower than our quotation,” said the source. He added, “We didn’t close any deals in May. Our last deal was made late last month, when we sold 30t at RMB163,000/t (USD10.9/lb V).” Considering the cost keeps high, he believes prices of this material would keep steady in the coming week.
With an annual production capacity of 1,000t for vanadium pentoxide powder, the producer produced 40t in April and didn’t produce in May, holding 20t of stock now.
A consumer in South China claims the quotation for vanadium pentoxide powder 98%min he received keeps at RMB118,000/t (USD7.9/lb V) EXW D/P now, down by RMB1,200/t (USD0.1/lb V) from last week. “We are in no hurry to buy raw materials vanadium pentoxide powder at the moment as we can hardly close deal for our downstream vanadium products,” said the source. He added, “We also buy ammonium metavanadate 98%min as raw materials. The current quotation for this material has dropped to RMB102,000/t (USD6.8/lb V) EXW D/P now. We would rather to buy ammonium metavanadate to replace vanadium pentoxide powder for cheaper prices.” Their last deal was made early this month, when they bought 32t at RMB160,000/t (USD10.7/lb V) for vanadium pentoxide powder 98%min.
With an annual consumption capacity of 600t for vanadium pentoxide powder, the consumer consumed 30t in April and expects the same volume in May, holding 10t of inventory now.
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