Chinese Vanadium Pentoxide Flake Prices Skyrocket
BEIJING (Asian Metal) 3 Jun 20 – Currently, mainstream prices of Chinese vanadium pentoxide flake 98%min stand at RMB104,000-106,000/t (USD6.79-6.92/lb V2O5) EXW D/A 180 days, up by RMB7,500/t (USD0.49/lb V2O5) from last week. Major producers could not meet the demand of end consumers for the time being and traders raise their quotation significantly. Insiders believe that mainstream prices of Chinese vanadium pentoxide flake 98%min would keep increasing in the coming week.
A consumer in Northeast China notes the current price for vanadium pentoxide flake 98%min he received stands at RMB105,000/t (USD6.86/lb V2O5) EXW D/P and could buy at RMB104,000/t (USD6.79/lb V2O5), up by RMB7,000/t (USD0.46/lb V2O5) from last week. “We need consume everyday but major producers refuse to sell at the moment, so we have to buy from traders,” said the source. They bought 32t at RMB104,000/t (USD6.79/lb V2O5) EXW D/P this Monday and 32t at RMB97,000/t (USD6.34/lb V2O5) early last week. As the cost keeps increasing, they have to increase their vanadium nitride to RMB165,000/t (USD30.2/kg V) EXW D/P now and closed deal at this price level for 10t this Tuesday, up by RMB7,000/t (USD1.3/kg V) from one week ago. He believes that mainstream prices of vanadium pentoxide flake 98%min would edge up in the coming week.
With an annual consumption capacity of 4,300t, they consumed about 1,000t in 2019 and about 650t so far this year. They expect to consume about 145t in June, up by 30t from May, holding about 64t of stocks now, up by 32t from last month.
A consumer in South China claims the current quotation for vanadium pentoxide flake 98%min he received stands at RMB105,000/t (USD6.86/lb V2O5) EXW D/P and could buy at RMB105,000/t (USD6.86/lb V2O5) EXW D/A 180 days, up by RMB6,000/t (USD0.39/lb V2O5) from last week. “We bought 32t at RMB99,000/t (USD6.47/lb V2O5) early last week,” said the source. They need to buy another 32t this week but could not find any goods in spot market. Considering the supply keeps tight, he believes that mainstream prices of vanadium pentoxide flake 98%min would increase to RMB108,000/t (USD7.06/lb V2O5) in the coming week.
With a consumption capacity of 3,000tpy, they consumed about 2,570t in 2019 and about 550t so far this year. They consumed about 100t in May and expect 185t in June, holding about 20t of stocks now, down by 12t from last month.
www.asianmetal.com
