European Vanadium Pentoxide Flake Prices Drop
BEIJING (Asian Metal) 28 May 20 – Currently, mainstream prices of European vanadium pentoxide flake 98%min stand at USD5.6-5.9/lb V2O5 in warehouse Rotterdam, down by USD0.2/lb V2O5 from last week. End consumers only purchase according to urgent need and most suppliers face huge sales pressure now. Insiders believe that mainstream prices of European vanadium pentoxide flake 98%min would stay weak in the coming week.
A trader from Middle Europe quotes their vanadium pentoxide flake 98%min at USD6/lb V2O5 in warehouse Rotterdam and could accept USD5.6/lb V2O5 for long-term contract to their regular client, down by USD0.2/lb V2O5 from last week. “We sold 20t to one of our regular clients at USD5.6/lb V2O5 this week, which belongs to a part of our long-term contract,” said the source. They received another inquiry for 20t this week but the buyer only wanted to buy at no more than USD5.5/lb V2O5, they refused this order directly. For immediate shipment, they ask for at least USD5.8/lb V2O5 now. As most steel mills in European market didn’t resume production yet, he believes that mainstream prices of European vanadium pentoxide flake 98%min would keep weak in the coming week.
With a regular trading volume of 300tpm for vanadium pentoxide flake, they expect to sell 200t in May, the same as April, holding about 100t of stocks now, unchanged from last month.
A consumer in East Europe notes the current market prices for vanadium pentoxide flake 98%min he received stand at around USD5.8/lb V2O5 in warehouse Rotterdam, down by USD0.15/lb V2O5 from last week. “We bought 20t of vanadium pentoxide flake 98%min at USD5.95/lb V2O5 for immediate shipment late last week,” said the source. Though prices dropped slightly during the past week, they are still too high for them as they could only sell ferrovanadium 80%min at no more than USD25/kg V in warehouse Rotterdam, down by USD0.5/kg V from last week. In order to guarantee their basic profit, they would buy scrap vanadium catalyst to replace. Considering prices of downstream vanadium products keep slightly dropping tendency, he believes that mainstream prices of European vanadium pentoxide flake 98%min would stay weak in the coming week.
With an annual consumption capacity of 840t for vanadium pentoxide flake, they expect to consume about 60t in May, including the consumption of scrap vanadium catalyst, unchanged from April, holding about 20t of stocks now, down by 10t from last month.
www.asianmetal.com
