BEIJING (Asian Metal) 8 Nov 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min stand at RMB89,000-93,000/t (USD5.9-6.2/lb V2O5) EXW D/P, down by RMB3,000/t (USD0.2/lb V2O5) from this Tuesday. Consumers only make purchase according to urgent need and the demand stays weak. Insiders believe prices of this material would keep steady in the coming week.
A producer in Hubei quotes their vanadium pentoxide powder 98%min at RMB93,000/t (USD6.2/lb V2O5) EXW D/P and can accept RMB92,000/t (USD6.1/lb V2O5) for firm bids, down by RMB3,000/t (USD0.2/lb V2O5) from early this week. “We just sold 5t at RMB92,000/t (USD6.1/lb V2O5) this Thursday. I received 3 inquiries within one day from our trader clients this week, they prepare to build stock. They and I all believe prices have touched the bottom now,” said the source. He believes prices of vanadium pentoxide powder would stay steady in the coming week.
With an annual production capacity of 600t, they produed 30t in October and expect the same volume in November, holding 10t of stocks now.
A consumer in Liaoning claimed the lowest quotation for vanadium pentoxide powder 98%min he received stays at RMB91,000/t (USD6.0/lb V2O5) EXW D/P, down by RMB4,000/t (USD0.6/lb V2O5) from this Tuesday. “We won’t buy raw material if we have not signed downstream sales contracts. According to our sales price, we can at most accept RMB89,000/t (USD5.9/lb V2O5) for vanadium pentoxide powder 98%min at the moment. However, most suppliers refuse to drop their quotation any more,” said the source. Their last deal was made two weeks ago, when they bought 10t at RMB115,000/t (USD7.6/lb V2O5). He believes prices of vanadium pentoxide powder 98%min would keep around at RMB90,000/t (USD6.0/lb V2O5) in the coming week.
With an annual consumption capacity of 360t, they consumed 330t in 2018 and have consumed 260t this year. They expect to consume 20t in November, unchanged from October. They have 15t of stocks now, up by 5t from last month.
www.asianmetal.com
