BEIJING (Asian Metal) 28 Oct 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min dropped to RMB114,000-118,000/t (USD7.5-7.7/lb V2O5) EXW D/P, down by RMB2,000/t (USD0.1/lb V2O5) from last week. Consumers only make purchase according to urgent need and the market keeps quiet. Insiders believe prices of vanadium pentoxide powder market would keep weak in the coming week.

A producer in Hubei quotes their vanadium pentoxide powder 98%min at RMB118,000/t (USD7.7/lb V2O5) EXW D/P and can accept RMB116,000/t (USD7.6/lb V2O5) for firm bids, down by RMB3,000/t (USD0.2/lb V2O5) from last week. “We are producing for the signed long-term contracts now and inquiries in spot market are hard to see as consumers would rather to watch the market,” said the source. Their last deal in spot market was made two weeks ago, when they sold 15t at RMB128,000/t (USD8.4/lb V2O5). He believes prices of this material would drop by RMB1,000/t (USD0.1/lb V2O5) in the coming week.

With an annual production capacity of 960t, they produced 60t in September and expect the same volume in October, holding 30t of stocks now.

A consumer in Hunan noted the lowest quotation for vanadium pentoxide powder 98%min he received keeps at RMB115,000/t (USD7.5/lb V2O5) EXW D/P, down by RMB4,000/t (USD0.3/lb V2O5) from last week. “Prices are dropping now and we are not in hurry to make purchase at the moment. We prefer to use the history stock as it’s easy to find goods in spot market now,” said the source. Their last deal was made late September, when then bought 10t at RMB130,000/t (USD8.5/lb V2O5). He believes prices of vanadium pentoxide powder 98%min would drop by RMB2,000/t (USD0.1/lb V2O5) in the coming week.

With an annual consumption capacity of 240t, they consumed 200t in 2018 and have consumed 150t this year. They except to consume 15t in October, unchanged from September, holding 8t of stocks now, down by 7t from last month.

www.asianmetal.com