BEIJING (Asian Metal) 7 Jan 20 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min stand at RMB92,500-95,500/t (USD6.1-6.3/lb V2O5) EXW D/A 180 days, the same as late last week. Consumers refuse to buy at high price level and suppliers also refuse to drop their quotation to promote sales. Insiders believe that the market of vanadium pentoxide flake would keep a stalemate in the coming week.

A producer in Sichuan quotes their vanadium pentoxide flake 98%min at RMB95,500/t (USD6.3/lb V2O5) EXW D/A 180 days and they can accept RMB94,000/t (USD6.2/lb V2O5) EXW D/P for firm bids, unchanged from late last week. “We are in no hurry to accept new orders as the current price keeps at a really low level and we mainly produce for our fixed clients now,” said the source. Their last deal was made two weeks ago, when they sold 32t at RMB94,500/t (USD6.3/lb V2O5) EXW D/P. Considering prices of downstream vanadium products keep dropping, he believes that prices of vanadium pentoxide flake would keep weak in the coming week.

With an annual production capacity of 1,000t, they produced 400t in total in 2019 for 6 months. They produced 70t in December and expect the same volume in January, holding 30t of stocks now.

A trader in Hubei quotes their vanadium pentoxide flake 98%min at RMB94,500/t (USD6.3/lb V2O5) EXW D/P and they can sell at RMB94,000/t (USD6.2/lb V2O5) for firm bids, unchanged from last week. “I heard the current price for vanadium nitride stands at RMB147,500/t (USD27.5/lb V2O5) EXW D/P, which means consumers can afford RMB95,000/t (USD6.3/lb V2O5) EXW D/P for raw material vanadium pentoxide flake 98%min,” said the soucre. He added, “I received an inquiry for 32t this Monday but the buyer only wanted to buy at no more than RMB92,000/t (USD6.1/lb V2O5).” Their last deal was made early last week, when they sold 32t at RMB94,000/t (USD6.2/lb V2O5). He believes that prices of vanadium pentoxide flake 98%min would be steady in the coming week.

With a regular trading volume of 90tpm, they sold 1,000t in 2018 and 1,100t in 2019. They expect to sell 60t in January, down by 30t from December, holding 64t of stocks now, unchanged from last month.

www.asianmetal.com