BEIJING (Asian Metal) 8 Jul 20 – At the moment, mainstream prices of Chinese vanadium pentoxide flake 98%min stand at RMB105,500-107,500/t (USD7.0-7.1/lb V2O5) EXW D/A 180 days, unchanged from one week ago. Inquiries from end consumers increased significantly during the past week but prices stay in a stalemate. Considering prices of downstream vanadium products keep steady, insiders believe that mainstream prices of vanadium nitride would stay firm in the coming week.
“Inquiries increased significantly and we sold about 96t in total during the past week. We sold 32t at RMB106,000/t (USD7.0/lb V2O5) EXW D/P, 32t at RMB105,000/t (USD6.9/lb V2O5) and anther 32t at RMB105,500/t (USD7.0/lb V2O5) late last week,” a trader in South China said. They ask for RMB106,000/t (USD7.0/lb V2O5) and could accept RMB105,500/t (USD7.0/lb V2O5) for firm bids at the moment, the same as last week. Considering prices of downstream vanadium nitride stayed steady, he believes that mainstream prices of vanadium pentoxide flake 98%min would keep firm in the coming week.
With a regular trading volume of 60tpm, they sold about 600t in 2019 and about 400t in the first half of this year. They sold about 120t in June and expect 240t in July, holding about 32t of stocks now, the same as last month.
“Prices stay in a stalemate now. During the past week, nearly all suppliers quoted their vanadium pentoxide flake 98%min at RMB106,000/t (USD7.0/lb V2O5) EXW D/P,” a consumer in South China noted. Their last deal was made this Monday, when they bought 32t at RMB105,500/t (USD7.0/lb V2O5). They tried to increase their bottom price of vanadium nitride from RMB167,000/t (USD30.9/kg V) EXW D/A 180 days to RMB170,000/t (USD31.4/kg V) during the past week but few steel mills would like to accept. Considering downstream prices keep steady, he believes that mainstream prices of vanadium pentoxide flake 98%min would keep quiet accordingly in the coming week.
With an annual consumption capacity of 1,500t, they consumed about 840t in 2019 and about 480t in the first half of this year. They expect to consume 120t in July, the same as June, holding about 60t of stocks now, up by 30t from last month.
www.asianmetal.com
