BEIJING (Asian Metal) 28 Nov 19 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min stand at RMB96,000-99,000/t (USD6.4-6.6/lb V2O5) EXW D/A 180 days, down by RMB1,000/t (USD0.1/lb V2O5) from this Wednesday. As prices of downstream vanadium products keep dropping, suppliers of vanadium pentoxide flake are facing high pressure to sell their goods. Insiders believe prices of vanadium pentoxide flake would drop slightly in the coming week.
A consumer in North China claimed the current quotation for vanadium pentoxide flake 98%min he received stands at RMB97,000/t (USD6.4/lb V2O5) EXW D/P and can buy at RMB96,000/t (USD6.3/lb V2O5) for firm bids, down by RMB1,000/t (USD0.1/lb V2O5) from this Monday. “Our last deal was made two weeks ago, when we bought 32t at RMB92,000/t (USD6.1/lb V2O5) and 32t at RMB93,000/t (USD6.1/lb V2O5). It’s hard to find low price raw material now as suppliers are holding their stocks and in no hurry to sell,” said the source. He added, “Prices of vanadium nitride have dropped below RMB150,000/t (USD27.7/lb V2O5) now and our target price for vanadium pentoxide flake 98%min keeps at RMB90,000/t (USD5.9/lb V2O5).” Though no suppliers would like to accept at the moment, he believes prices of vanadium pentoxide flake 98%min would drop to this price level in the coming week.
With an annual consumption capacity of 2,000t, they consumed 1,800t in 2018 and have consumed 1,500t so far this year. They expect to consume 150t in November, unchanged from October, holding 90t of stocks now, down by 30t from late last month.
A consumer in South China noted the current price for vanadium pentoxide flake 98%min he received stand at RMB95,000/t (USD6.3/lb V2O5) EXW D/P, down by RMB2,000/t (USD0.1/lb V2O5) from this Monday. “We want to buy at no more than RMB92,000/t (USD6.1/lb V2O5) but no suppliers would like to accept at the moment. I believe they would have to drop their bottom price soon as prices of downstream vanadium nitride keep dropping,” said the source. Their last deal was made half a month ago, when they bought 64t at RMB92,000/t (USD6.1/lb V2O5). He believes mainstream prices would drop to RMB92,000/t (USD6.1/lb V2O5) in the coming week.
With an annual consumption capacity of 2,400t, they consumed 2,200t in 2018 and have consumed 1,800t this year. They expect to consume 150t in November, down by 30t from October, holding about 160t of stocks now, up by 60t from late last month.
www.asianmetal.com
