BEIJING (Asian Metal) 18 Jun 20 – Currently, mainstream prices of Chinese vanadium pentoxide flake 98%min stand at RMB107,000-109,000/t,000/t (USD7-7.1/lb V2O5) EXW D/A 180 days, down by RMB2,000/t (USD0.1/lb V2O5) from early last week. Consumers only purchase according to urgent need and market inquiries stay quiet now. Considering major suppliers only supply their long-term agreement clients and the supply situation in spot market stays tight, insiders believe that mainstream prices of vanadium pentoxide flake 98%min would keep firm in the coming week.
“We just bought 32t of ferrovanadium 98%min at RMB107,000/t (USD7/lb V2O5) EXW D/A 180 days this Monday,” a consumer in Northwest China noted. Our regular supplier insisted on RMB109,000/t (USD7.1/lb V2O5) early last week but they have to drop their quotation, because most consumers have finished the purchase from major producers at RMB107,000/t (USD7/lb V2O5) now. Considering most steel mills have not started their purchase of vanadium nitride for July and the market keeps quiet, he believes that mainstream prices of vanadium pentoxide flake 98%min would stay steady in the coming week.
With an annual consumption capacity of 2,560t, they consumed about 1,800t in 2019 and only about 500t so far this year. They expect to consume about 170t in June, up by 30t from May, holding about 30t of stocks now.
“Major producers signed long-term agreement price for vanadium pentoxide flake 98%min to their regular clients at RMB107,000/t (USD7/lb V2O5) EXW D/A 180 days,” a producer in South China said. As they mainly produce for OEM, the sales volume stays not fixed. They sold 30t at RMB106,000/t (USD6.9/lb V2O5) EXW D/P for immediate shipment this Tuesday. They would accept new orders at the same price level for at most 30t but would deliver at the end of this month. Considering the supply situation in spot market keeps tight, he believes that mainstream prices of vanadium pentoxide flake 98%min would keep firm in the coming week.
With an annual production capacity of 2,400t, they produced about 1,610t in 2018 and about 2,000t in 2019. They produced about 520t in the first five months this year. They expect to produce about 100t in June, unchanged from May, holding no stocks now.
www.asianmetal.com
