Chinese vanadium pentoxide flake prices drop
2023-04-04 07:56:53 [Print]
BEIJING (Asian Metal) 4 Apr 23 - As vanadium alloy bidding prices kept moving down, Chinese vanadium pentoxide flake 98%min prices couldn't get effective support and the market mentality stayed negative during the past week. Currently, the mainstream prices of Chinese vanadium pentoxide flake 98%min stand at RMB130,000-132,000/t (USD8.7-8.9/lb V2O5) EXW D/P, down by RMB2,000/t (USD0.1/lb V2O5) from late last week. Considering that the rare inquiry in spot market continues, insiders expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would move down slightly in the coming week.
"Vanadium nitride bidding prices we received dropped to the latest around RMB191,800/t (USD36.5/kg V) delivered D/P, which seriously reduced our confidence. In order to promote sales of vanadium pentoxide flake 98%min, we could accept RMB130,000/t (USD8.7/lb V2O5) EXW D/P now," said a trader in South China. They just sold 32t of vanadium pentoxide flake 98%min at this price level this Monday. However, their regular clients could still accept RMB132,000/t (USD8.9/lb V2O5) late last week. Considering that most buyers prefer to watch the market and inquiries in spot market stay rare now, they predict that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop to around RMB130,000/t (USD8.7/lb V2O5) in the coming week.
With a monthly trading volume of 120t, they sold about 1,050t in 2022 and about 260t so far this year. They expect to sell about 120t this month, almost the same as last month. They have around 30t of stocks for the moment, unchanged MoM.
"Due to the dropping vanadium alloy bidding prices, clients kept reluctant to purchase during the past week. In order to promote sales, we could accept RMB131,000/t (USD8.8/kg V) EXW D/P now," said a trader in South China. They last sold 32t of vanadium pentoxide flake 98%min at RMB132,000/t (USD8.9/lb V2O5) about one week ago. Their major clients only want to buy at around RMB128,000/t (USD8.6/lb V2O5) now. Considering that terminal market couldn't offer effective support, they expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop below RMB130,000/t (USD8.7/lb V2O5) in the coming week.
With a monthly trading volume of 100t, they sold about 1200t in 2022 and about 300t so far this year. They expect to sell about 100t in April, almost the same as March, holding about 30t of inventories for the moment, unchanged MoM.
"Vanadium nitride bidding prices we received dropped to the latest around RMB191,800/t (USD36.5/kg V) delivered D/P, which seriously reduced our confidence. In order to promote sales of vanadium pentoxide flake 98%min, we could accept RMB130,000/t (USD8.7/lb V2O5) EXW D/P now," said a trader in South China. They just sold 32t of vanadium pentoxide flake 98%min at this price level this Monday. However, their regular clients could still accept RMB132,000/t (USD8.9/lb V2O5) late last week. Considering that most buyers prefer to watch the market and inquiries in spot market stay rare now, they predict that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop to around RMB130,000/t (USD8.7/lb V2O5) in the coming week.
With a monthly trading volume of 120t, they sold about 1,050t in 2022 and about 260t so far this year. They expect to sell about 120t this month, almost the same as last month. They have around 30t of stocks for the moment, unchanged MoM.
"Due to the dropping vanadium alloy bidding prices, clients kept reluctant to purchase during the past week. In order to promote sales, we could accept RMB131,000/t (USD8.8/kg V) EXW D/P now," said a trader in South China. They last sold 32t of vanadium pentoxide flake 98%min at RMB132,000/t (USD8.9/lb V2O5) about one week ago. Their major clients only want to buy at around RMB128,000/t (USD8.6/lb V2O5) now. Considering that terminal market couldn't offer effective support, they expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop below RMB130,000/t (USD8.7/lb V2O5) in the coming week.
With a monthly trading volume of 100t, they sold about 1200t in 2022 and about 300t so far this year. They expect to sell about 100t in April, almost the same as March, holding about 30t of inventories for the moment, unchanged MoM.
