BEIJING (Asian Metal) 28 Aug 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min stand at RMB130,000-134,000/t (USD8.4-8.7/lb V2O5) EXW D/P, down by RMB1,000/t (USD0.1/lb V2O5) from last week. Most producers are producing according to orders and the supply keeps tight. Though prices of downstream vanadium products are dropping, insiders believe prices of vanadium pentoxide powder would keep steady in the coming week.
A consumer in Shaanxi just bought 10t of vanadium pentoxide powder 98%min at RMB130,000/t (USD8.4/lb V2O5) EXW D/P this Monday, down by RMB2,000/t (USD0.1/lb V2O5) from last week. “I send inquiries to our regular clients early last week and the lowest prices I received stand at RMB132,000/t (USD8.5/lb V2O5). We finished the purchase this Monday and prices dropped by RMB2,000/t (USD0.1/lb V2O5),” said the source.He added, “Most suppliers refuse to accept at lower price level and it’s hard to buy in spot market now.” He believes prices of vanadium pentoxide powder 98%min would keep steady at RMB130,000/t (USD8.4/lb V2O5) in the coming week.
With an annual consumption capacity of 600t for vanadium pentoxide powder, they consumed 30t in July and expect the same volume in August, holding 15t of stocks now.
A consumer in Guangdong noted the lowest quotation for vanadium pentoxide powder 98%min he received stands at RMB130,000/t (USD8.4/lb V2O5), down by RMB1,000/t (USD0.1/lb V2O5) from last week. “Our last deal was made late last month, when we bought 10t at RMB140,000/t (USD9.1/lb V2O5) and we plan to make purcahse for another 10t at the end of this month,” said the source. He added, “Our regulare suppliers have little stock at the moment, we need to wait at least 10 days after we signed contracts.” Considering the supply in spot market keeps tight, he believes prices of vanadium pentoxide powder would be firm in the coming week.
With a consumption capacity of 240tpy for vanadium pentoxide powder, they consumed 15t in July and expect to consume 5t in August as downstream orders reduced. They have 5t of stocks at the moment.
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