Chinese vanadium pentoxide flake prices down
2023-03-29 07:42:45 [Print]
BEIJING (Asian Metal) 29 Mar 23 - In view of the dropping vanadium alloy bidding prices, Chinese vanadium pentoxide flake 98%min market mentality stayed negative during the past week. Currently, the mainstream prices of Chinese vanadium pentoxide flake 98%min stand at RMB132,000-134,000/t (USD9.0-9.1/lb V2O5) EXW D/A 180 days, down by RMB3,000/t (USD0.2/lb V2O5) from late last week. Considering that most buyers prefer to watch the market and inquiries in spot market keep rare for the moment, insiders predict that the mainstream prices of Chinese vanadium pentoxide flake 98%min would edge down in the coming week.
"Prices of vanadium nitride bidding prices dropped to the latest around RMB195,000/t (USD37.1/kg V) delivered D/P, which brought huge dropping pressure on us. In order to promote sales, we could accept RMB134,000/t (USD9.1/lb V2O5) EXW D/P for firm bids of vanadium pentoxide flake 98%min now," said a producer in South China. They just sold 32t of vanadium pentoxide flake 98%min at this price level this Monday. However, buyers could still accept RMB135,500/t (USD9.2/lb V2O5) late last week. Their major clients even refuse to purchase at any prices above RMB132,000/t (USD9.0/lb V2O5) for the moment. Considering that downstream vanadium alloy prices couldn't offer any effective support now, they expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop to around RMB132,000/t (USD9.0/lb V2O5) in the coming week.
With a regular trading volume of 120tpm, they sold about 1400t in 2022 and about 360t so far this year. They expect to sell about 120t this month, almost the same as last month, holding around 32t of regular inventories for the moment, unchanged MoM.
"No buyers would like to build raw material inventory as vanadium alloy bidding prices kept moving down during the past week. According to the feedback of our major clients, we could accept sell at RMB134,000/t (USD9.1/lb V2O5) EXW D/P now," said a producer in North China. They last sold 32t of vanadium pentoxide flake 98%min at RMB135,500/t (USD9.2/lb V2O5) EXW D/P about one week ago. Ferrovanadium 50%min bidding prices we inquired dropped to the latest around RMB143,700/t (USD42.1/kg V) delivered D/A 180 days. Considering that the negative market mentality in spot market continues, they expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop by at least RMB2,000/t (USD0.1/lb V2O5) in the coming week.
With an annual production capacity of 1,800t, they produced about 1,340t in 2022 and about 240t in the first two months of 2023. They expect to produce about 130t this month, up by about 10t from last month. They have around 10t of stocks for the moment, up by about 10t MoM.
"Prices of vanadium nitride bidding prices dropped to the latest around RMB195,000/t (USD37.1/kg V) delivered D/P, which brought huge dropping pressure on us. In order to promote sales, we could accept RMB134,000/t (USD9.1/lb V2O5) EXW D/P for firm bids of vanadium pentoxide flake 98%min now," said a producer in South China. They just sold 32t of vanadium pentoxide flake 98%min at this price level this Monday. However, buyers could still accept RMB135,500/t (USD9.2/lb V2O5) late last week. Their major clients even refuse to purchase at any prices above RMB132,000/t (USD9.0/lb V2O5) for the moment. Considering that downstream vanadium alloy prices couldn't offer any effective support now, they expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop to around RMB132,000/t (USD9.0/lb V2O5) in the coming week.
With a regular trading volume of 120tpm, they sold about 1400t in 2022 and about 360t so far this year. They expect to sell about 120t this month, almost the same as last month, holding around 32t of regular inventories for the moment, unchanged MoM.
"No buyers would like to build raw material inventory as vanadium alloy bidding prices kept moving down during the past week. According to the feedback of our major clients, we could accept sell at RMB134,000/t (USD9.1/lb V2O5) EXW D/P now," said a producer in North China. They last sold 32t of vanadium pentoxide flake 98%min at RMB135,500/t (USD9.2/lb V2O5) EXW D/P about one week ago. Ferrovanadium 50%min bidding prices we inquired dropped to the latest around RMB143,700/t (USD42.1/kg V) delivered D/A 180 days. Considering that the negative market mentality in spot market continues, they expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop by at least RMB2,000/t (USD0.1/lb V2O5) in the coming week.
With an annual production capacity of 1,800t, they produced about 1,340t in 2022 and about 240t in the first two months of 2023. They expect to produce about 130t this month, up by about 10t from last month. They have around 10t of stocks for the moment, up by about 10t MoM.
