Chinese vanadium pentoxide powder suppliers hold back from selling
Date: Oct 10, 2018
BEIJING (Asian Metal) 10 Oct 18 – Current mainstream prices for Chinese vanadium pentoxide powder 98%min hold at RMB426,000-430,000/t (USD28.50-28.77/lb V) Inc-VAT EXW D/P, up by RMB40,000/t (USD2.68/kg) from those before the National Day holiday. Most vanadium pentoxide powder suppliers held back from selling as they were optimistic about the market outlook and the spot supply for the material were tight. As a result, it was extremely difficult to make purchase at low prices. Market participants predicted that Chinese vanadium pentoxide powder would rise rapidly in the coming week.
A producer in South China noted that the lowest price for vanadium pentoxide powder 98%min they could accept is RMB430,000/t (USD28.77/kg) at present, up by RMB40,000/t (USD2.68/kg) from that before the holiday. He said, ＂We have no spot stocks now, and adopt pre-sale. Only after the customers paid in full will we arrange to increase production. As it is the seller’s market right now, we will not accept any counter-offers.＂The source revealed that they last sold 10t of the material at RMB390,000/t (USD26.09/kg) in late September. He predicted that prices for Chinese vanadium pentoxide powder 98%min would be over RMB450,000/t (USD30.10/kg) in the coming week.
