Chinese Vanadium Pentoxide Powder Market Keeps Clam
BEIJING (Asian Metal) 2 Apr 20 – Currently, mainstream prices for Chinese vanadium pentoxide powder 98%min stand at RMB91,000-95,000/t (USD5.9-6.2/lb V2O5) EXW D/P, unchanged from last week. Most suppliers hold their stocks to watch the market and consumers only make purchase according to urgent need. Considering major producers refuse to drop their quotation, he believes that mainstream prices of Chinese vanadium pentoxide powder 98%min would keep steady in the coming week.
A producer in South China quotes their vanadium pentoxide powder 98%min at RMB95,000/t (USD6.2/lb V2O5) EXW D/P and won’t accept any discount for firm bids, the same as last week. “We didn’t produce during the past two months because of the virus. We are in no hurry to resume production now as the profit keeps thin,” said the source. They are selling their stocks now and they won’t accept any orders below the current quotaiton. Considering inquiries are rare to see now, he believes that mainstream prices of Chinese vanaidum pentoxide powder 98%min would keep weak in the coming week.
With an annual production capacity of 600t, they produced 450t in 2019. They didn’t produce during the past three months so far this year due to the virus, holding 20t of stocks now.
A producer in North China quotes their vanadium pentoxide powder 98%min at RMB95,000/t (USD6.2/lb V2O5) EXW D/P but they could only close deal at RMB92,000/t (USD6.0/lb V2O5), the same as last week. “We just sold 20t of vanadium pentoxide powder 98%min at RMB92,000/t (USD6.0/lb V2O5) this week,” said the source. He added, “Our target price keeps at RMB110,000/t (USD7.1/lb V2O5) but no buyers would like to buy at more than RMB92,000/t (USD6.0/lb V2O5).” Considering major producers refuse to drop their quotation, he believes that mainstream prices of vanadium pentoxide powder 98%min would stay steady in the coming week.
With an annual production capacity of 720t, they produced 600t in 2019 and have produced 80t so far this year. They produced 20t in March and expect 30t in April, holding 25t of stocks now.
www.asianmetal.com
