Chinese Vanadium Pentoxide Powder Prices Down
BEIJING (Asian Metal) 5 Jul 19 – Mainstream prices for Chinese vanadium pentoxide powder 98%min stand at RMB120,000-124,000/t (USD7.96-8.22/lb V) EXW D/P now, down by RMB4,000/t (USD0.27/lb V) from last week. Downstream consumers only purchased from hand to mouth, leading to limited transactions. Summer witnesses the traditional low season, so insiders expect Chinese vanadium pentoxide powder prices to keep flat in the coming week.
A consumer in Jiangxi is offered RMB120,000/t (USD7.96/lb V) EXW D/P at least for vanadium pentoxide powder 98%min now, down by RMB5,000/t (USD0.33/lb V) from last week. He said, “We purchase raw material of industrial grade 98%min to produce high purity grade 99.5%min. With downstream product selling bad now, we have no plan to add stocks of raw material.” The company last purchased 60t of vanadium pentoxide powder 98%min at RMB128,000/t (USD8.49/lb V) in mid-June. Considering weak downstream demand, he expects Chinese vanadium pentoxide powder prices would keep flat in the coming week.
With an annual consumption capacity of 840t for vanadium pentoxide powder, the company expects to use 50t in July, down by 10t from June, holding 25t of stocks now.
A consumer in Jiangsu is offered about RMB122,000/t (USD8.09/lb V) EXW D/P for vanadium pentoxide powder 98%min now, down by RMB3,000/t (USD0.20/lb V) from last week. He said, “I learned that bidding prices for ferrovanadium and vanadium nitride from several large steel plants were much lower than suppliers’ offers. The market shows the downward trend now, and vanadium pentoxide powder prices decrease as expected.” The company last purchased 10t of vanadium pentoxide powder 98%min at RMB127,000/t (USD8.42/lb V) in late June. He expects vanadium pentoxide powder prices would keep dropping under pressure in the coming week.
With an annual consumption capacity of 240t for vanadium pentoxide powder, the company expects to use 15t in July, in line with June, holding 10t of stocks now.
www.asianmetal.com
