BEIJING (Asian Metal) 25 Jun 19 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min are RMB125,000-128,000/t (USD8.4-8.6/lb V) EXW D/A 180 days, down by RMB2,000/t (USD0.1/lb V) from last week. As the demand remains weak from downstream markets, transactions are not likely to be closed at high prices. Market participants predict that prices for Chinese vanadium pentoxide flake would remain stable in the coming week.
A trader in southern China said that they now quote vanadium pentoxide flake 98%min at RMB128,000/t (USD8.6/lb V) EXW D/A 180days, down by RMB2,000/t (USD0.1/lb V) from the prior week. He added, “We quoted RMB130,000/t (USD8.8/lb V) last week, but no buyer would like to purchase at the price. In order to promote sales, we made a concession in price. So far, we have sold 30t of vanadium pentoxide flake 98%min at the adjusted price.” In light of the limited transactions now, the trader is of the opinion that prices for Chinese vanadium pentoxide flake would keep stable in the following week.
With a regular monthly trading volume of 60t, the trader expects to sell 60t in June, in line with May, holding inventory of 30t now.
Another trader in southern China said that his suppliers generally quote vanadium pentoxide flake 98%min at around RMB128,000/t (USD8.6/lb V) now and the actual transaction price could be around RMB127,000/t (USD8.5/lb V), down by RMB1,000/t (USD0.07/lb V) from last week’s floor price. He added, “Major producers give no quotation now and don’t hold any inventory as well, while small-sized producers and traders hold stocks in hand, with their sales prices no lower than RMB125,000/t (USD8.4/lb V). Market participants are all taking a wait-and-see attitude now, so I believe that prices would basically remain unchanged in the coming week.” The trader last purchased about 40t of vanadium pentoxide flake 98%min from his supplier at RMB123,000/t (USD8.3/lb V) two weeks ago.
With a regular monthly trading volume of 100t, the trader expects to sell 80t in June, down by 20t from last month, holding inventory of around 60t now.
www.asianmetal.com
