BEIJING (Asian Metal) 29 Aug 19 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min keep steady at RMB130,000-133,000/t (USD8.4-8.6/lb V2O5) EXW D/A 180 days, unchanged from last week. Most producers are producing according to orders and the supply in spot market keeps tight.Insiders believe prices of vanadium pentoxide flake would keep firm in the coming week.
A trader in Henan claimed the lowest quotation for vanadium pentoxide 98%min he received stands at RMB130,000/t (USD8.4/lb V2O5) EXW D/P, unchanged from last week. “We sold out all 60t of stocks at RMB135,000/t (USD8.7/lb V2O5) late July and we are trying to build new stocks at the moment,” said the source. He added, “Prices have been steady for two weeks and I believe it’s the bottom now. Most producers are only producing for the signed contracts and it’s hard to find goods in spot market now.” He believes prices of vanadium pentoxide flake would stay firm in the coming week.
With a regular trading volume of 60tpm, they sold 600t in 2018 and have sold 400t since early 2019. They sold 60t in July but didn’t close any deals in August for lack of stocks. They have no inventory now.
A consumer in Liaoning claimed the current quotation for vanadium pentoxide flake 98%min stands at RMB130,000/t (USD8.4/lb V2O5) EXW D/A 180 days, unchanged from last week. “We signed long-term contracts with major producers and current prices all keep at RMB130,000/t (USD8.4/lb V2O5),” said the source. They just bought 32t this Tuesday at this price level. Considering the supply keeps tight, he believes prices of vanadium pentoxide flake would keep steady in the coming week.
With an annual consumption capacity of 3,600t, they consumed 260t in July and expect the same volume in August, holding 60t of stocks now.
www.asianmetal.com
