Chinese Vanadium Pentoxide Powder Prices Drop
BEIJING (Asian Metal) 22 Oct 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min stand at RMB117,000-121,000/t (USD7.7-7.9/lb V2O5) EXW D/P, down by RMB3,000/t (USD0.2/lb V2O5) from last week. Consumers only make purchase according to urgent need and the market keeps quiet. Insiders believe prices of this material would keep dropping in the coming week.
A trader in Northeast China quotes their vanadium pentoxide powder 98%min at RMB120,000/t (USD7.9/lb V2O5) and can accept RMB118,000/t (USD7.7/lb V2O5) for firm bids, down by RMB4,000/t (USD0.3/lb V2O5) from early last week. “Our last deal was made late last week, when we sold 20t at RMB118,000/t (USD7.7/lb V2O5). As they are our regular client and the volume is considerable, we accept this order,” said the source. Considering inquiries are hard to see now, he believes prices of vanadium pentoxide powder 98%min would drop to RMB117,000/t (USD7.7/lb V2O5) in the coming week.
With a regular trading volume of 40tpm, they sold 450t in 2018 and have sold 300t this year. They expect to sell 30t in October, down by 10t from September, holding 20t of stocks, unchanged from last month.
A producer in South China claimed their vanadium pentoxide powder 98%min at RMB122,000/t (USD8.0/lb V2O5) EXW D/P and can accept RMB120,000/t (USD7.9/lb V2O5) for firm bids, down by RMB2,000/t (USD0.1/lb V2O5) from early last week. “I received an inquiry early this week but the buyer only wanted to buy at no more than RMB117,000/t (USD7.7/lb V2O5). According to the feedback of our regular clients, it’s really hard to close deal at more than RMB120,000/t (USD7.9/lb V2O5) now,” said the source. Their last deal was made early last week, when they sold 10t at RMB122,000/t (USD8.0/lb V2O5). He believes prices of Chinese vanadium pentoxide powder 98%min would drop by RMB2,000/t (USD0.1/lb V2O5) in the coming week.
With an annual production capacity of 600t, they produced 40t in September and expect the same volume in October, holding 20t of stocks now.
www.asianmetal.com
