Chinese vanadium pentoxide powder prices down
2023-03-23 08:24:49 [Print]
BEIJING (Asian Metal) 23 Mar 23 - In view of the soft demand and dropping raw material prices, Chinese vanadium pentoxide powder 99.5%min market mentality kept weak during the past week. Currently, the mainstream prices of Chinese vanadium pentoxide powder 99.5%min stand at RMB155,000-160,000/t (USD10.2-10.5/lb V2O5) EXW D/P, down by RMB5,000/t (USD0.3/lb V2O5) from late last week. Considering that most buyers prefer to watch the market, insiders believe that the mainstream prices of Chinese vanadium pentoxide powder 99.5%min would keep soft in the coming week.
"We saw too many vanadium battery projects, but few of them purchase raw materials. Vanadium pentoxide powder 99.95%min market stay quiet now. For firm bids, we could accept RMB160,000/t (USD10.5/lb V2O5) EXW D/P," said a producer in South China. They last sold 5t of vanadium pentoxide powder 99.5%min to one of their regular clients at RMB163,000/t (USD10.7/lb V2O5) about one week and didn't receive any new inquiries after that. They contacted their major clients this Wednesday, but clients' target prices only stay at no more than RMB153,000/t (USD10/lb V2O5). Considering that few buyers would like to add inventory now, they expect that the mainstream prices of Chinese vanadium pentoxide powder 99.5%min would drop below RMB153,000/t (USD10/lb V2O5) in the coming week.
With an annual production capacity of 2,000t, they produced about 230t in 2022 and about 60t so far this year. They expect to produce about 25t this month, down by around 5t from last month due to lack of orders, holding nearly 5t of regular stocks for the moment, unchanged MoM.
"Prices of ammonium metavanadate 98%min we inquired dropped by around RMB3,000/t (USD0.4/kg) from one week ago to the latest around RMB127,000/t (USD18.3/kg), which reduced our confidence. In order to guarantee our market competitiveness, we could accept a discount of RMB2,000/t (USD0.1/lb V2O5) now," said another producer in South China. They quoted RMB160,000/t (USD10.5/lb V2O5) EXW D/P and refused to accept any inquiries below this price level last week. They just sold 10t of vanadium pentoxide powder 99.95%min at RMB158,000/t (USD10.4/lb V2O5) this Tuesday. Considering that raw material prices couldn't offer effective support now, they expect that the mainstream prices of Chinese vanadium pentoxide powder 99.5%min would move down by at least RMB2,000/t (USD0.1/lb V2O5) in the coming week.
With an annual production capacity of 600t, they produced about 430t in 2022 and about 40t so far this year. They expect to produce about 20t this month, the same as last month. They have around 20t of stocks for the moment, unchanged MoM.
"We saw too many vanadium battery projects, but few of them purchase raw materials. Vanadium pentoxide powder 99.95%min market stay quiet now. For firm bids, we could accept RMB160,000/t (USD10.5/lb V2O5) EXW D/P," said a producer in South China. They last sold 5t of vanadium pentoxide powder 99.5%min to one of their regular clients at RMB163,000/t (USD10.7/lb V2O5) about one week and didn't receive any new inquiries after that. They contacted their major clients this Wednesday, but clients' target prices only stay at no more than RMB153,000/t (USD10/lb V2O5). Considering that few buyers would like to add inventory now, they expect that the mainstream prices of Chinese vanadium pentoxide powder 99.5%min would drop below RMB153,000/t (USD10/lb V2O5) in the coming week.
With an annual production capacity of 2,000t, they produced about 230t in 2022 and about 60t so far this year. They expect to produce about 25t this month, down by around 5t from last month due to lack of orders, holding nearly 5t of regular stocks for the moment, unchanged MoM.
"Prices of ammonium metavanadate 98%min we inquired dropped by around RMB3,000/t (USD0.4/kg) from one week ago to the latest around RMB127,000/t (USD18.3/kg), which reduced our confidence. In order to guarantee our market competitiveness, we could accept a discount of RMB2,000/t (USD0.1/lb V2O5) now," said another producer in South China. They quoted RMB160,000/t (USD10.5/lb V2O5) EXW D/P and refused to accept any inquiries below this price level last week. They just sold 10t of vanadium pentoxide powder 99.95%min at RMB158,000/t (USD10.4/lb V2O5) this Tuesday. Considering that raw material prices couldn't offer effective support now, they expect that the mainstream prices of Chinese vanadium pentoxide powder 99.5%min would move down by at least RMB2,000/t (USD0.1/lb V2O5) in the coming week.
With an annual production capacity of 600t, they produced about 430t in 2022 and about 40t so far this year. They expect to produce about 20t this month, the same as last month. They have around 20t of stocks for the moment, unchanged MoM.
