BEIJING (Asian Metal) 12 Apr 23 – Due to the sufficient supply and dropping vanadium alloy prices, Chinese vanadium pentoxide flake 98%min market mentality kept negative during the past week. Currently, the mainstream prices of Chinese vanadium pentoxide flake 98%min stand at RMB126,000-128,000/t (USD8.5-8.6/lb V2O5) EXW D/P, down by RMB3,000/t (USD0.2/lb V2O5) from late last week. Considering that downstream market couldn’t offer any effective support now, insiders predict that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop below RMB125,000/t (USD8.4/lb V2O5) in the coming week.
“Bidding prices of ferrovanadium 50%min we inquired dropped to the latest around RMB128,500/t (USD37.7/kg V) delivered D/A 180 days, which seriously damaged our confidence. In order to reduce our inventory as soon as possible, we could accept RMB128,000/t (USD8.6/lb V2O5) EXW D/P for firm bids of vanadium pentoxide flake 98%min now,” said a producer in South China. They last sold about 32t of vanadium pentoxide flake 98%min at RMB132,000/t (USD8.9/lb V2O5) early last week. They contacted their major clients this Tuesday, but buyers only want to purchase at prices no more than RMB125,000/t (USD8.4/lb V2O5) for the moment. Considering that they face increasing inventory pressure for the moment, they expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop below RMB125,000/t (USD8.4/lb V2O5) in the coming week.
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