Chinese vanadium pentoxide flake producers stop quoting
Date: Dec 13, 2018
BEIJING (Asian Metal) 13 Dec 18 – Currently, mainstream prices for Chinese vanadium pentoxide flake 98%min are RMB356,000-359,000/t (USD23.93-24.13/lb V) Inc-VAT EXW D/A 180 days, down by RMB74,000/t (USD4.97/lb V) from early last week. As the demand of downstream vanadium products reduces, most producers of raw material vanadium pentoxide flake stop quoting. Insiders are bearish about the market and believe prices would keep dropping in the coming week.
A producer in North China claimed that they stopped quoting, as the demand keeps weak. “We are producing for the signed contracts now and won’t quote before 20 December,” said the source. He added, he has received some inquiries in the last few days but the highest price buyers offer is only RMB300,000/t (USD20.16/lb V) Inc-VAT EXW D/P, which is RMB50,000/t (USD3.36/lb V) lower than their target price. Their last deal was made in early November, when they sold 60t at RMB500,000/t (USD33.60/lb V) Inc-VAT EXW D/A 180 days. He believes prices would show downtrend in the coming week.
