BEIJING (Asian Metal) 23 Oct 19 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min stand at RMB116,000-120,000/t (USD7.6-7.8/lb V2O5) EXW D/P, down by RMB1,000/t (USD0.1/lb V2O5) from this Monday. Suppliers are in hurry to reduce their stocks. Insiders believe prices of vanadium pentoxide powder would drop slightly 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 RMB1,000/t (USD0.1/lb V2O5) from this Monday. “We have 15t of stocks and we couldn’t sleep well as prices keep dropping. We sold all of them out this Tuesday at RMB116,000/t (USD7.6/lb V2O5),” said the source. He believes prices would drop by RMB2,000/t (USD0.1/lb V2O5) in the coming week.

With an annual production capacity of 1,000t, they produced 60t in September and expect 40t in October, holding no stocks now.

A consumer in Fujian claimed the current price for vanadium pentoxide 98%min stands at RMB118,000/t (USD7.7/lb V2O5) EXW D/P, down by RMB2,000/t (USD0.1/lb V2O5) from this Monday. “We plan to buy 1t for urgent need this week and our target price stands at no more than RMB116,000/t (USD7.6/lb V2O5). We won’t consider to build stocks as prices keep dropping now,” said the source. Their last deal was made two weeks ago, when they bought 5t at RMB130,000/t (USD8.5/lb V2O5).He believes prices of vanaidum pentoxide 98%min would drop to RMB116,000/t (USD7.6/lb V2O5) in the coming week.

With an annual consumption capacity of 60t, they consumed 50t in 2018 and have consumed 35t this year. They except to consume 5t in October, unchanged from September. They have 2t of stocks now, down by 3t from last month.

www.asianmetal.com