BEIJING (Asian Metal) 5 Nov 19 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min stand at RMB95,000-98,000/t (USD6.3-6.5/lb V2O5) EXW D/A 180 days, down by RMB3,000/t (USD0.2/lb V2O5) from last week. Consumers only make purchase according to urgent need and the market keeps quiet. Considering prices of downstream vanadium products keep dropping, insiders believe prices of vanadium pentoxide flake would drop slightly in the coming week.
A producer in North China quotes their vanadium pentoxide flake 98%min at RMB99,000/t (USD6.5/lb V2O5) EXW D/A 180 days and can accept RMB95,000/t (USD6.3/lb V2O5) for firm bids, down by RMB4,000/t (USD0.3/lb V2O5) from last week. “I received an inquiry for 30t this Monday and the buyer only wants to buy at no more than RMB95,000/t (USD6.3/lb V2O5). Considering they are our regular client, we accept this order,” said the source. He added, “I heard prices of vanadium nitride have dropped to RMB150,000/t (USD27.7/kg V) EXW D/A 180 days now, down by RMB10,000/t (USD1.8/kg V) from one week ago.” Considering prices of downstream vanadium products dropped a lot, he believes prices of vanadium pentoxide flake 98%min would drop by RMB3,000/t (USD0.2/lb V2O5) in the coming week.
With an annual production capacity of 2,000t, they produced 150t in October and expect the same volume in November, holding 60t of stocks now.
A consumer in South China noted the current price for vanadium pentoxide flake 98%min he received stands at RMB95,000/t (USD6.3/lb V2O5) EXW D/P, down by RMB3,000/t (USD0.2/lb V2O5) from last week. “We have 30t of vanadium nitride waiting to deliver now and we need to buy at least 30t of vanadium pentoxide for urgent need,” said the source. He added, “A trader agreed to sell us 32t of vanadium pentoxide flake 98%min at this price level. I learnt they are in hurry to reduce their inventory at the moment.” He believes prices of vanadium pentoxide flake 98%min would drop to RMB90,000/t (USD5.9/lb V2O5) EXW D/P in the coming week.
With an annual consumption capacity of 1,200t, they consumed 1,000t in 2018 and have consumed 600t this year. They consumed 64t in October and expect the same volume in November, holding 30t of stocks now, down by 32t from last month.
www.asianmetal.com
