BEIJING (Asian Metal) 22 Aug 19 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min stand at RMB130,000-133,000/t (USD8.5-8.7/lb V2O5) EXW D/A 180 days, down by RMB9,000/t (USD0.6/lb V2O5) from last week. As the demand keeps soft and prices of downstream vanadium products keep dropping, most participants are lack of confidence for the future market. Insiders believe prices of vanadium pentoxide flake would keep weak steady in the coming week.
A consumer in Hubei claimed the lowest quotation for vanadium pentoxide 98%min they received dropped to RMB133,000/t (USD8.7/lb V2O5) EXW D/A 180 days, down by RMB9,000/t (USD0.6/lb V2O5) from last week. “We just bought 32t vanadium pentoxide flake 98%min at RMB130,000/t (USD8.5/lb V2O5) EXW D/P this Tuesday,” said the source. Considering prices of downstream vanadium nitride keep dropping, he believes prices of vanadium pentoxide flake 98%min would edge down by RMB1,000/t (USD0.1/lb V2O5) in the coming week.
With an annual consumption capacity of 3,400t for vanadium pentoxide flake 98%min, they expect to consume 260t in August, unchanged from July, holding 50t of stocks now.
A trader in Jiangxi claimed the current quotation for vanadium pentoxide flake 98%min at RMB132,000/t (USD8.7/lb V2O5) EXW D/P and can accept RMB130,000/t (USD8.5/lb V2O5) for firm bids, down by RMB10,000/t (USD0.7/lb V2O5) from last week. “We built 64t of stocks in July when price stood at RMB128,000/t (USD8.4/lb V2O5). We sold 32t at RMB140,000/t (USD9.2/lb V2O5) early last week. We must guarantee the progit margin of at least RMB2,000/t (USD0.1/lb V2O5) or we will not accept any new orders,” said the source. Considering prices of vanadium nitride keep dropping, he believes prices of vanadium pentoxide flake 98%min would keep weak steady at RMB130,000/t (USD8.5/lb V2O5) in the coming week.
With a regular trading volume of 60tpm, they sold 500t in 2018 and have sold 300t since the beginning of 2019. They sold 50t in July and expect to sell 60t in August, holding 32t of stocks now.
www.asianmetal.com
