BEIJING (Asian Metal) 5 Dec 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min stay at RMB92,000-96,000/t (USD6.0-6.3/lb V2O5) EXW D/P, down by RMB3,000/t (USD0.2/lb V2O5) from last week. Consumers only make purchase according to urgent need and the market stays in a stalemate. Insiders believe prices of this material would keep weak in the coming week.
A producer in South China quotes their vanadium pentoxide powder 98%min at RMB95,000/t (USD6.2/lb V2O5) EXW D/P and can sell at RMB94,000/t (USD6.2/lb V2O5) for firm bids, down by RMB2,000/t (USD0.1/lb V2O5) from last week. “I received an inquiry for 10t this Tuesday but the buyer only wanted to buy at no more than RMB90,000/t (USD5.9/lb V2O5),” said the source. He added, “I refused the buyer at last. If prices always keep below RMB95,000/t (USD6.2/lb V2O5), we would rather stop production and hold the inventory.” Their last deal was made two weeks ago, when they sold 20t at RMB98,000/t (USD6.4/lb V2O5). He believes prices of vanadium pentoxide powder would be steady in the coming week.
With an annual production capacity of 600t, they produced 40t in November and expect 30t in December, holding 20t of stocks now.
Another producer in South China noted their quotation for vanadium pentoxide powder 98%min at RMB93,000/t (USD6.1/lb V2O5) EXW D/P and can accept RMB92,000/t (USD6.0/lb V2O5) for firm bids, down by RMB3,000/t (USD0.2/lb V2O5) from last week. “We just sold 15t at RMB92,000/t (USD6.0/lb V2O5) this Wednesday to one of our regular clients. We are facing high pressure to reduce our stocks at the moment as inquiries from new clients are hard to see,” said the source. He believes prices of vanadium pentoxide powder would stay weak in the coming week.
With an annual production capacity of 500t, they produced 40t in November and expect the same volume in December, holding 50t of stocks at the moment.
www.asianmetal.com
