Chinese Vanadium Pentoxide Flake Market Supply Keeps Tight
BEIJING (Asian Metal) 4 Jun 20 – Currently, mainstream prices of Chinese vanadium pentoxide flake 98%min stand at RMB107,000-109,000/t,000/t (USD6.98-7.11/lb V2O5) EXW D/A 180 days, up by RMB3,000/t (USD0.2/lb V2O5) from this Tuesday. Major producers hold their stocks and refuse to sell in spot market, which leads market supply keeps tight. Considering inquiries from end consumers keep active, insiders believe that mainstream prices of vanadium pentoxide flake 98%min would keep increasing in the coming week.
“We sold 32t at RMB104,000/t (USD6.79/lb V2O5) EXW D/P late last week,” a trader from South China said. They quote RMB107,000/t (USD6.98/lb V2O5) at the moment, though no deals yet, they would not accept any orders below this price level at the moment. As too many end consumers call him to ask the price now, he believes that mainstream prices of vanadium pentoxide flake 98%min would increase to RMB110,000/t (USD7.11/lb V2O5) in the coming week.
With a regular trading volume of 60tpm, they sold about 700t in 2019 and sold about 320t so far this year. They expect to sell about 60t in June, unchanged from May, holding no stocks now, down by 32t from last month.
Another trader in South China quotes their vanadium pentoxide flake 98%min at RMB110,000/t (USD7.11/lb V2O5) EXW D/A 180 days and won’t accept any discount for firm bids now. “I received an inquiry for 64t this Wednesday but the buyer only wanted to buy at no more than RMB108,000/t (USD7.05/lb V2O5),” said the source. They are in no hurry to sell now as major producers cannot supply in spot market now. Considering inquiries stay active, he believes that dealing prices of vanadium pentoxide flake 98%min would stand firm at RMB110,000/t (USD7.11/lb V2O5) in the coming week.
With a regular trading volume of 50tpm, they sold about 600t in 2019 and about 200t so far this year. They didn’t sell in May and expect to sell 64t in June, holding about 64t in hands now, unchanged from last month.
www.asianmetal.com
