BEIJING (Asian Metal) 1 Jun 20 – Currently, mainstream prices of European vanadium pentoxide flake 98%min stand at USD5.4-5.7/lb V2O5 in warehouse Rotterdam, down by USD0.2/lb V2O5 from last week. Most suppliers face huge sales pressure due to the weak demand in European market. Considering inquiries from end consumers stay rare, insiders believe that mainstream prices of European vanadium pentoxide flake 98%min would edge down in the coming week.

A trader from West Europe quotes their vanadium pentoxide flake 98%min at USD5.6/lb V2O5 in warehouse Rotterdam and could accept USD5.5/lb V2O5 for firm bids more than 20t, down by USD0.1/lb V2O5 from last week. “Inquiries are rare to see at the moment due to the COVID-19 in European market. Our last deal was made late last week, when we sold 20t at USD5.5/lb V2O5 to one of our regular clients,” said the source. He heard some traders closed deal at USD5.4/lb V2O5. He believes that mainstream prices of European vanadium pentoxide flake 98%min would drop to USD5.4/lb V2O5 in the coming week.

With a regular trading volume of 60tpm for vanadium pentoxide flake, they sold about 60t in April and about 40t in May, holding about 40t of stocks now, up by 40t from last month.

A trader from Middle Europe notes the current market prices he received stand at around USD5.6/lb V2O5 in warehouse Rotterdam but they could only sell at no more than USD5.4/lb V2O5 for firm bids, down by USD0.2/lb V2O5 from one week ago. “We sold 20t at USD5.4/lb V2O5 in the middle of last week,” said the source. As most steel mills in European market reduced the demand for vanadium products due to the COVID-19, he thinks that the soft demand couldn’t support prices of raw material vanadium pentoxide flake 98%min and believes that mainstream prices would stay weak in the coming week.

With a back to back regular trading volume of 40tpm for vanadium pentoxide flake, they sold about 40t in April and about 20t in May, holding no stocks now.

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