Chinese vanadium pentoxide flake edge down
2023-03-14 08:27:47 [Print]
BEIJING (Asian Metal) 14 Mar 23 - As vanadium alloy bidding prices couldn't offer any effective support, Chinese vanadium pentoxide flake 98%min market mentality stayed soft during the past week and suppliers chose to loosen their prices to promote sales. Currently, the mainstream prices of Chinese vanadium pentoxide flake 98%min stay at RMB139,000-141,000/t (USD9.25-9.38/lb V2O5) EXW D/A 180 days, down by RMB1,000/t (USD0.07/lb V2O5) from middle last week. Considering that most buyers prefer to watch the market and the sufficient supply in spot market continues, insiders believe that the mainstream prices of Chinese vanadium pentoxide flake 98%min would edge down in the coming week.
"Vanadium alloy bidding prices stayed at a lower than our expectation and our clients prefer to watch the market now. In order to promote sales, we could accept RMB138,000/t (USD9.18/lb V2O5) EXW D/P for the moment," said a producer in South China. They last sold 32t of vanadium pentoxide flake 98%min at RMB139,000/t (USD9.25/lb V2O5) about one week ago. One of their regular clients sent a 32t of inquiries with the target price RMB135,000/t (USD8.98/lb V2O5) this Monday and they didn't accept. In view of the rare inquiries in spot market, they believe that the mainstream prices of Chinese vanadium pentoxide flake 98%min would keep weak in the coming week.
With an annual production capacity of 3,600t, they produced about 1,500t in 2022 and about 280t fo far this year. They expect to produce about 120t in March, the same as February, holding around 32t of stocks now, up by about 32t MoM.
"Steel mills' vanadium alloy bidding volume stayed strong during the past week, but bidding prices stayed at a lower level than our expectation, which brought negative influence on raw material prices, so we dropped our vanadium pentoxide flake 98%min price by RMB1,000/t (USD0.07/lb V2O5) from one week ago to the latest RMB138,000/t (USD9.18/lb V2O5) EXW D/P," said a producer in North China. They just sold about 32t of vanadium pentoxide flake 98%min at this price level this Monday. However, they refused to accept any inquiries below RMB139,000/t (USD9.25/lb V2O5) just one week before. Their major clients even only want to buy at no more than RMB136,500/t (USD9.08/lb V2O5) now. Considering that terminal market couldn't offer effective support now, they expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would stay soft in the following week.
With an annual production capacity of 1,800t, they produced about 1,340t in 2022 and about 240t so far this year. They expect to produce about 120t this month, almost the same as last month. They have no inventory now, unchanged MoM.
"Vanadium alloy bidding prices stayed at a lower than our expectation and our clients prefer to watch the market now. In order to promote sales, we could accept RMB138,000/t (USD9.18/lb V2O5) EXW D/P for the moment," said a producer in South China. They last sold 32t of vanadium pentoxide flake 98%min at RMB139,000/t (USD9.25/lb V2O5) about one week ago. One of their regular clients sent a 32t of inquiries with the target price RMB135,000/t (USD8.98/lb V2O5) this Monday and they didn't accept. In view of the rare inquiries in spot market, they believe that the mainstream prices of Chinese vanadium pentoxide flake 98%min would keep weak in the coming week.
With an annual production capacity of 3,600t, they produced about 1,500t in 2022 and about 280t fo far this year. They expect to produce about 120t in March, the same as February, holding around 32t of stocks now, up by about 32t MoM.
"Steel mills' vanadium alloy bidding volume stayed strong during the past week, but bidding prices stayed at a lower level than our expectation, which brought negative influence on raw material prices, so we dropped our vanadium pentoxide flake 98%min price by RMB1,000/t (USD0.07/lb V2O5) from one week ago to the latest RMB138,000/t (USD9.18/lb V2O5) EXW D/P," said a producer in North China. They just sold about 32t of vanadium pentoxide flake 98%min at this price level this Monday. However, they refused to accept any inquiries below RMB139,000/t (USD9.25/lb V2O5) just one week before. Their major clients even only want to buy at no more than RMB136,500/t (USD9.08/lb V2O5) now. Considering that terminal market couldn't offer effective support now, they expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would stay soft in the following week.
With an annual production capacity of 1,800t, they produced about 1,340t in 2022 and about 240t so far this year. They expect to produce about 120t this month, almost the same as last month. They have no inventory now, unchanged MoM.
