BEIJING (Asian Metal) 11 Mar 20 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min stand at RMB93,000-96,000/t (USD6.2-6.4/lb V2O5) EXW D/A 180 days, unchanged from this Monday. Consumers only make purchase according to urgent need and the market stays calm. Insiders believe that prices of Chinese vanadium pentoxide flake would keep steady in the coming week.
A consumer in Northeast China noted the current price for vanadium pentoxide flake 98%min he received stands at RMB93,000/t (USD6.2/lb V2O5) EXW D/P and they can buy at RMB92,000/t (USD6.1/lb V2O5) EXW D/P, unchanged from this Monday. “We just bought 30t this Monday at RMB92,000/t (USD6.2/lb V2O5). Because of the high water content, the supplier offered a big discount,” said the source. He added, “Major suppliers of vanadium pentoxide flake 98%min still quote at RMB96,000/t (USD6.4/lb V2O5) EXW D/A 180 days, unchanged from last week.” Considering the market keeps calm, he believes that prices of vanadium pentoxide flake 98%min would be steady in the coming week.
With an annual consumption capacity of 3,600t, they consumed 2,000t in 2019 and have consumed 100t so far this year. They didn’t consume in February and expect to consume 100t in March, holding 30t of stocks now, up by 30t from last month.
A trader in North China claimed the current price for vanadium pentoxide flake 98%min he received stands at RMB96,000/t (USD6.4/lb V2O5) EXW D/A 180 days, unchanged from last week. “We need to buy 2,000tpy in total from China and deliver to our Japanese client by month. We sent inquiries to major suppliers during the past week and all of them quoted at RMB96,000/t (USD6.4/lb V2O5) EXW D/A 180 days,” said the source. He added, “We could accept this price level but suppliers refuse to sign long-term contract with us.” They insist on locking long-term price before they start to make purchase. Considering major producers refuse to drop their quotation, he believes that mainstream prices for Chinese vanadium pentoxide flake would keep steay in the coming week.
With a regular trading volume of 170tpm, they sold 2,000t in 2019 and have sold 330t so far this year. They expect to sell 170t in March, unchanged from February, holding no stocks now, the same as last month.
www.asianmetal.com
