Chinese Vanadium Pentoxide Powder Prices Keep Weak
BEIJING (Asian Metal) 2 Jan 20 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min stand at RMB90,000-94,000/t (USD6.0-6.3/lb V2O5) EXW D/P, unchanged from last week. Consumers only make purchase according to urgent need and the demand keeps soft. Insiders believe that prices of vanadium pentoxide powder would keep weak in the coming week.
A consumer in North China claimed the current price for vanadium pentoxide powder 98%min he received stands at RMB94,000/t (USD6.3/lb V2O5) EXW D/P and can buy at no more than RMB92,000/t (USD6.1/lb V2O5) for firm bids, the same as last week. “We just buy raw material that can use for half a month and we won’t build too many stocks now as prices may drop furthur,” said the source. Their last deal was made this Monday, when they bought 20t at RMB92,000/t (USD6.1/lb V2O5). He believes that prices of vanadium pentoxide powder 98%min would stay week in the coming week because of the loose supply situation.
With an annual consumption capacity of 600t, they consumed 580t in 2018 and 550t in 2019. They consumed 40t in December, the same as November, holding 20t of stocks at the moment, down by 20t from one month ago.
A trader in South China mentioned that the current price for vanadium pentoxide powder 98%min he heceived keeps at RMB95,000/t (USD6.3/lb V2O5) EXW D/P and can buy at no more than RMB94,000/t for firm bids, unchanged from last week. “Some small suppliers can sell at RMB92,000/t (USD6.1/lb V2O5) but we don’t believe in their quality. Our regular supplier insisted on RMB94,000/t (USD6.3/lb V2O5) now and we prepare to watch the market,” said the source. Their last deal was made two weeks ago, when they bought 20t at RMB96,000/t (USD6.4/lb V2O5). Considering prices of the whole vanadium market face great downward pressure, he believes that prices of vanadium pentoxide powder would keep weak in the coming week.
With a regular trading volume of 30tpm, they sold 350t in 2018 and 300t in 2019. They sold 20t in December, down by 10t from November, holding no stocks now, the same as one month ago.
www.asianmetal.com
