BEIJING (Asian Metal) 26 Mar 20 – Currently, mainstream prices for Chinese vanadium pentoxide powder 99%min stand at RMB125,000-130,000/t (USD8.1-8.4/lb V2O5) delivered D/A 180 days, the same as last week. Consumers only make purchase according to urgent need and suppliers could hardly close deal at high price level. Insiders believe that mainstream prices would keep in a stalemate in the coming week.
A producer in South China quotes their vanadium pentoxide powder 99%min at RMB140,000/t (USD9.1/lb V2O5) delivered D/A 180 days and they can accept RMB136,000/t (USD8.8/lb V2O5) for firm bids. “I received an inquiry for 10t this Monday but the buyer only wanted to buy at no more than RMB125,000/t (USD8.1/lb V2O5). Considering they can pay immediately, we accepted this order,” said the source. He added, “I leant other major suppliers quote at RMB140,000-143,000/t (USD9.1-9.2/lb V2O5) . However, few consumers would like to accept.” He believes that mainstream prices would keep steady in the coming week.
With an annual production capacity of 360t, they produced 18t in February and expect the same volume in March, holding 30t of stocks now.
A consumer in South China notes the current price for vanadium pentoxide powder 99%min he received stands at RMB140,000/t (USD9.1/lb V2O5) delivered D/A 180 days, unchanged from last week. “We plan to make purchase for 10t in spot marekt. Though suppliers quote at high price level, we won’t accept. To be frank, we have confimed with our supplier to buy at RMB110,000/t (USD7.1/lb V2O5) EXW D/P. As we have special demand for microelement, we closed deal at RMB130,000/t (USD8.4/lb V2O5) delivered D/A 180 days this week,” said the source. Considering the whole vanadium market face downward trend, he believes that mainstream prices of vanadium pentoxide powder 99%min would stay weak in the coming week.
With an annual consumption capacity of 600t, they consumed 500t in 2019. They expect to consume 40t in March, unchanged from February, holding 10t of stocks now.
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