European Vanadium Pentoxide Flake Prices Increase
BEIJING (Asian Metal) 20 Mar 20 – Currently, mainstream dealing prices for European vanadium pentoxide flake 98%min stand at USD5.7-6.0/lb V2O5 in warehouse Rotterdam, up by USD0.3/lb V2O5 from last week. As the COVID-19 restricted the transportation, suppliers try to increase their quotation accordingly. Though consumers only make purchase according to urgent need, insiders believe that mainstream prices of European vanadium pentoxide flake would increase further in the coming week.
A trader in Middle Europe notes the current market price for vanadium pentoxide flake 98%min he received stands at USD6/lb V2O5 in warehouse Rotterdam, up by USD0.3/lb V2O5 from last week. “The European vanadium market is crazy and I don’t even know the reason why prices would rebound as inquiries are rare to see now. I think the main reason is that the COVID-19 restricted the transportation,” said the source. They sold 20t at USD5.7/lb V2O5 early last week. Considering most suppliers try to increase their quotation, they are in no hurry to accept new orders and they prefer to watch the market. He believes that dealing prices for European vanadium pentoxide flake 98%min would follow up the quotation in the in the coming week.
With a regular trading volume of 40tpm, as inquiries are rare to see at the moment, they only sold about 20t in March and expect the same volume in April, holding about 60t of stocks now, down by 20t from last month.
A supplier in West Europe quotes their vanadium pentoxide flake 98%min at USD5.8/lb V2O5 in warehouse Rotterdam and could close the deal at USD5.7/lb V2O5 for firm bids, up by USD0.3/lb V2O5 from last week. “According to what I know, most suppliers in European market are trying to increase their quotation significantly. However, to this Friday, we only closed deal at most at USD5.7/lb V2O5,” said the source. Their last deal was made late last week, when they sold 20t at USD5.7/lb V2O5. Considering the COVID-19 situation in European market keeps serious, which restricted most port, he believes that mainstream prices for European vanadium pentoxide flake 98%min would increase further in the coming week.
With a regular trading volume of 60tpm, they sold about 720t in 2019. As new inquiries are rare to see now, they expect to sell 40t in April, down by 20t from March. They only purchase according orders, holding no inventory.
www.asianmetal.com
