Chinese vanadium pentoxide flake prices keep moving down
2023-05-01 07:28:40 [Print]
BEIJING (Asian Metal) 1 May 23 - Due to the dropping vanadium alloy prices and sufficient supply in spot market, Chinese vanadium pentoxide flake 98%min market mentality maintained negative over the past week. Currently, the mainstream prices of Chinese vanadium pentoxide flake 98%min stand at RMB105,000-107,000/t (USD7.1-7.2/lb V2O5) EXW D/P, down by RMB6,000/t (USD0.4/lb V2O5) from early last week. Though more and more traders start to build inventory for long term investment, considering that downstream rebar market couldn't offer any effective support, insiders believe that the mainstream prices of Chinese vanadium pentoxide flake 98%min would keep moving down in the coming week.
"Prices of vanadium nitride we inquired dropped to the latest around RMB155,000/t (USD29.5/kg V) delivered D/A 180 days, so we have to drop our vanadium pentoxide flake 98%min price to guarantee our market competitiveness. For firm bids, we could accept RMB105,000/t (USD7.1/lb V2O5) EXW D/P now," said a producer in North China. They just sold 32t of vanadium pentoxide flake 98%min at this price level late last week. However, buyers could still accept RMB113,000/t (USD7.6/lb V2O5) just one week before. Considering that downstream rebar market couldn't offer any effective support, they predict that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop to around RMB100,000/t (USD6.7/lb V2O5) in the coming week.
With an annual production capacity of 2,400t, they produced about 2,200t in 2022 and about 620t so far in 2023. They expect to produce about 150t this month, almost the same as last month. They have no inventory for the moment, unchanged MoM.
"In view of the dropping vanadium alloy prices, we have no choice but to drop our vanadium pentoxide flake 98%min price accordingly to promote sales. For firm bids, we could accept RMB106,000/t (USD7.1/lb V2O5) EXW D/P now," said a producer in South China. They just sold 32t of vanadium pentoxide flake 98%min at RMB107,000/t (USD7.2/lb V2O5) last Thursday. However, they refused to sell at any prices below RMB113,000/t (USD7.6/lb V2O5) one week before that. More and more traders start to contact them for stock building with the target prices of no more than RMB100,000/t (USD6.7/lb V2O5) EXW D/P. Though inquiries turned active, considering that rebar prices keep dropping, they expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop by at least RMB6,000/t (USD0.4/lb V2O5) in the following week.
With an annual production capacity of 2,400t, they produced about 1,680t in 2022 and about 590t so far this year. They produced about 130t in April, down by about 30t from last month due to the increasing inventory pressure. They have about 60t of stocks for the moment, up by about 30t MoM.
"Prices of vanadium nitride we inquired dropped to the latest around RMB155,000/t (USD29.5/kg V) delivered D/A 180 days, so we have to drop our vanadium pentoxide flake 98%min price to guarantee our market competitiveness. For firm bids, we could accept RMB105,000/t (USD7.1/lb V2O5) EXW D/P now," said a producer in North China. They just sold 32t of vanadium pentoxide flake 98%min at this price level late last week. However, buyers could still accept RMB113,000/t (USD7.6/lb V2O5) just one week before. Considering that downstream rebar market couldn't offer any effective support, they predict that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop to around RMB100,000/t (USD6.7/lb V2O5) in the coming week.
With an annual production capacity of 2,400t, they produced about 2,200t in 2022 and about 620t so far in 2023. They expect to produce about 150t this month, almost the same as last month. They have no inventory for the moment, unchanged MoM.
"In view of the dropping vanadium alloy prices, we have no choice but to drop our vanadium pentoxide flake 98%min price accordingly to promote sales. For firm bids, we could accept RMB106,000/t (USD7.1/lb V2O5) EXW D/P now," said a producer in South China. They just sold 32t of vanadium pentoxide flake 98%min at RMB107,000/t (USD7.2/lb V2O5) last Thursday. However, they refused to sell at any prices below RMB113,000/t (USD7.6/lb V2O5) one week before that. More and more traders start to contact them for stock building with the target prices of no more than RMB100,000/t (USD6.7/lb V2O5) EXW D/P. Though inquiries turned active, considering that rebar prices keep dropping, they expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop by at least RMB6,000/t (USD0.4/lb V2O5) in the following week.
With an annual production capacity of 2,400t, they produced about 1,680t in 2022 and about 590t so far this year. They produced about 130t in April, down by about 30t from last month due to the increasing inventory pressure. They have about 60t of stocks for the moment, up by about 30t MoM.
