BEIJING (Asian Metal) 14 Nov 19 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min stand at RMB96,000-99,000/t (USD6.3-6.5/lb V2O5) EXW D/A 180 days, up by RMB3,000/t (USD0.2/lb V2O5) from last week. Suppliers are in no hurry to reduce their stocks and it’s hard to close deal at low price level. Insiders believe prices of vanadium pentoxide flake would edge up in the coming week.
A consumer in Northeast China noted the lowest quotation for vanadium pentoxide flake 98%min he received stands at RMB98,000/t (USD6.5/lb V2O5) EXW D/P at the moment, up by RMB2,000/t (USD0.1/lb V2O5) from last week. “Our last deal was made early last week, when we bought 32t at RMB96,000/t (USD6.3/lb V2O5) EXW D/P. However, it’s no possible to close deal at the same price level this week as the supplier don’t want to reduce their stocks now,” said the source. He believes prices of vanadium pentoxide flake 98%min would increase by RMB2,000/t (USD0.1/lb V2O5) in the coming week.
With an annual consumption capacity of 2,500t, they didn’t consume in 2018 and have consumed 800t this year. They expect to consume 200t in November, the same with October. They have 120t of stocks now, down by 30t from last month.
A trader in South China claimed the current price for vanadium pentoxide flake 98%min he received stands at RMB97,000/t (USD6.4/lb V2O5) EXW D/P now, up by RMB3,000/t (USD0.2/lb V2O5) from last week. “Producers refuse to accept orders at low prices now and all of them are in no hurry to reduce their inventory. We prepare to build some stock in the coming days as prices are increasing,” said the source. Their last deal was made early last week, when they bought 32t at RMB94,000/t (USD6.2/lb V2O5). He believes prices of vanadium pentoxide flake 98%min would increase by RMB3,000/t (USD0.2/lb V2O5).
With a regular trading volume of 60tpm, they sold 600t in 2018 and have sold 400t this year. They expect to sell 60t in November, up by 30t from October, holding 40t of stocks now, up by 10t from last month.
www.asianmetal.com
