Chinese Vanadium Pentoxide Powder Prices Stay Steady
BEIJING (Asian Metal) 15 Jan 20 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min stand at RMB90,000-94,000/t (USD6.1-6.3/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 be steady in the coming week.
A producer in North China quotes their vanadium pentoxide powder 98%min at RMB93,000/t (USD6.2/lb V2O5) EXW D/P and they can accept RMB92,000/t (USD6.2/lb V2O5) for firm bids, the same as last week. “Our regular clients delay making purchase for vanadium pentoxide powder. Inquiries are rare to see before the Spring Festival,” said the source. He added, “I received an inquiry for 10t last week but the buyer only wanted to buy at no more than RMB90,000/t (USD6.1/lb V2O5). We are in no hurry to sell at low price level now, so we didn’t accept this order.” Their last deal was made two weeks ago, when they sold 20t at RMB92,000/t (USD6.2/lb V2O5). He believes that prices of vanadium pentoxide powder 98%min would keep steady in the coming week.
With an annual production capacity of 960t, they produced 70t in last December and expect 50t in this January, holding 30t of stocks now.
A consumer in North China noted the current price for vanadium pentoxide powder 98%min he received stands at RMB92,000/t (USD6.2/lb V2O5) EXW D/P and they can buy at no more than RMB90,000/t (USD6.1/lb V2O5) for firm bids, unchanged from last week. “Our regular supplier insisted on RMB92,000/t (USD6.2/lb V2O5) but in order to guarantee our basic profit margin, we must ask them to reduce at least RMB2,000/t (USD0.1/lb V2O5) or we won’t make purchase,” said the source. Their last deal was made late last week, when they bought 20t at RMB90,000/t (USD6.1/lb V2O5). Considering the supply situation stays loose, he believes that prices of vanadium pentoxide powder would keep weak in the coming week.
With an annual consumption capacity of 500t, they consumed 450t in 2019, up by 50t from 2018. They expect to consume 30t in January, down by 10t from last December, holding 25t of stocks now, unchanged from last month.
www.asianmetal.com
