Chinese Vanadium Pentoxide Powder Prices Keep Firm
BEIJING (Asian Metal) 24 Apr 20 – At present, mainstream prices of Chinese vanadium pentoxide powder 98%min stand firm at RMB91,000-94,000/t (USD5.96-6.16/lb V2O5) EXW D/P, unchanged from last week. Consumers only make purchase according to urgent need and few suppliers would like to drop their quotation to promote sales. Insiders believe that mainstream prices of vanadium pentoxide powder 98%min would stay in a stalemate in the coming week.
A trader in North China quotes their vanadium pentoxide powder 98%min at RMB92,500/t (USD6.06/lb V2O5) EXW D/P and could accept RMB92,000/t (USD6.03/lb V2O5) for firm bids, the same as last week. “I received an inquiry for 10t from our regular client this Monday but they only wanted to buy at no more than RMB90,000/t (USD5.84/lb V2O5),” said the source. They refused this order directly and won’t accept any orders below their bottom price. They prefer to watch the market and are in no hurry to sell now. He believes that mainstream prices of vanadium pentoxide powder 98%min would stay firm in the coming week.
With a regular trading volume of 20tpm for vanadium pentoxide powder 98%min, they sold 240t in 2019. They expect to sell 10t in April, down by 10t from March, holding about 10t of stocks now, the same as last month.
A consumer in South China notes the lowest price for vanadium pentoxide powder 98%min he received stands at RMB91,500/t (USD5.99/lb V2O5) EXW D/P, the same as last week. “We bought 15t at this price level this week,” said the source. As they finished the payment in advance, the supplier offered a more competitive price than other suppliers to them. Considering major producers refuse to drop their quotation to promote sales, he believes that mainstream prices of vanadium pentoxide powder 98%min would keep steady in the coming week.
With an annual consumption capacity of 100tpy for vanadium pentoxide powder 98%min, they consumed 50t in 2019. They expect to consumed 10t in April, the same as March, holding about 15t of stocks now, up by 5t from last
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