BEIJING (Asian Metal) 31 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, unchanged from early this week. As the cost keeps high, most suppliers refuse to drop thier quotation now, even though the demand still keeps weak. Insiders believe prices of this material would keep steady in the coming week.
A consumer in Northeast China claims the quotation for vanadium pentoxide powder 98%min he received stays at RMB120,000/t (USD8.0/lb V) EXW D/P now, unchanged from early this week. “We plan to buy 10t in near term. One producer told me if I buy all 10 tons from their company, they can accept at RMB120,000/t (USD8.0/lb V),” said the source. Their last deal was made in the middle of May, when they bought 10t at RMB128,000/t (USD8.6/lb V). He believes prices of this material would keep steady in the coming week.
With an annual consumption capacity of 400t for vanadium pentoxide powder, the consumer consumed 20t in April and expects the same volume in May, holding 10t of stock now.
A trader in South China quotes their vanadium pentoxide powder 98%min at RMB121,000/t (USD8.1/lb V) EXW D/P and can accept RMB120,000/t (USD8.0/lb V) for firm bids, unchaged from early this week. “We buy from our regular supplier. They offer me RMB118,000/t (USD7.9/lb V) for firm bids and RMB117,000/t (USD7.8/lb V) for bids more than 30t. We earn about RMB3,000-4,000/t (USD0.2-0.3/lb V) for profits when we sell to our clients,” said the source. Their last deal was made early this week, when they bought 30t at RMB117,000/t (USD7.8/lb V). He believes prices of this material would keep steady in the coming week.
With an annual trading volume of 30tpm for vanadium pentoxide powder, they sold 30t in April and expect the same volume in May, holding 30t of inventory now.
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