BEIJING (Asian Metal) 13 Nov 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min stand at RMB92,000-96,000/t (USD6.1-6.3/lb V2O5) EXW D/P, up by RMB3,000/t (USD0.2/lb V2O5) from last week. Few suppliers would like to drop their quotation to absorb new orders and low price transaction significantly reduced. Insiders believe prices of vanadium pentoxide powder would increase slightly in the coming week.
A producer in Hubei quotes their vanadium pentoxide powder 98%min at RMB96,000/t (USD6.3/lb V2O5) EXW D/P and can accept RMB95,000/t (USD6.3/lb V2O5) for firm bids, up by RMB3,000/t (USD0.2/lb V2O5) from last week. “We sold 4t at RMB92,000/t (USD6.1/lb V2O5) last Friday. This Tuesday, we closed deal with one of our regular clients at RMB95,000/t (USD6.3/lb V2O5) for 5t,” said the source. Considering the weather is becoming colder and colder, which will reduce their production volume, he believes prices of vanadium pentoxide powder 98%min would increase to RMB98,000/t (USD6.5/lb V2O5) in the coming week.
With an annual production capacity of 500t, they produed 30t in October and expect 20t in November, holding 10t of stocks now.
Another producer in Hubei claimed the lowest quotation for vanadium pentoxide powder 98%min they can accept stands at RMB95,000/t (USD6.3/lb V2O5) EXW D/P, up by RMB3,000/t (USD0.2/lb V2O5) from last week. “This week, inquiries increased obviously. I have received 3 inquiries today, all of them want to build inventory at the current price level,” said the source. Their last deal was made this Monday, when they sold 5t at RMB93,000/t (USD6.1/lb V2O5). He believes prices of vanadium pentoxide powder 98%min would increase by RMB5,000/t (USD0.3/lb V2O5) in the coming week.
With an annual production capacity of 1,000t, they produced 60t in October and expect 50t in November, holding 15t of stocks now.
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