Chinese vanadium pentoxide flake prices decline
2023-04-10 08:36:42 [Print]
BEIJING (Asian Metal) 10 Apr 23 - In view of the dropping vanadium alloy prices, Chinese vanadium pentoxide flake 98%min market mentality kept negative during the past week due to lack of effective support from terminal users. Currently, the mainstream prices of Chinese vanadium pentoxide flake 98%min stand at RMB128,000-130,000/t (USD8.6-8.7/lb V2O5) EXW D/P, down by RMB4,000/t (USD0.3/lb V2O5) from early last week. Considering that most buyers prefer to watch the market and the weak mentality continues, insiders believe that the mainstream prices of Chinese vanadium pentoxide flake 98%min would decline further in the coming week.
"Prices of vanadium nitride we inquired dropped to the latest around RMB190,500/t (USD36.3/kg V) delivered D/P, which brought huge dropping pressure on prices of vanadium pentoxide flake 98%min," said a trader in South China. In order to guarantee their monthly sales volume, they dropped their price from RMB131,000/t (USD8.8/lb V2O5) EXW D/P last week to the current RMB130,000/t (USD8.7/lb V2O5). They just sold 32t of vanadium pentoxide flake 98%min at this price level late last week. Considering that downstream vanadium market couldn't offer any effective support now, they predict that the mainstream prices of Chinese vanadium pentoxide flake 98%min would by around RMB3,000/t (USD0.2/lb V2O5) in the coming week.
With a regular trading volume of 120tpm, they sold about 1,720t in 2022 and about 360t in the first three months of 2023. They expect to sell about 120t this month, almost the same as March. They have about 32t of stocks now, unchanged MoM.
"Buyers all prefer to watch the market due to the dropping vanadium alloy prices and we could hardly reduce our inventory pressure. For firm bids, we could accept RMB130,000/t (USD8.7/lb V2O5) EXW D/P for the moment," said another trader in South China. They last sold 32t of vanadium pentoxide flake 98%min at this price level late last week to one of their regular clients after a hard bargain. The buyer only wanted to buy at no more than RMB128,000/t (USD8.6/lb V2O5) at first. However, they ask at least RMB132,000/t (USD8.9/lb V2O5) just one week ago. Prices of ferrovanadium 50%min they inquired dropped to the latest around RMB135,000/t (USD39.6/kg V) delivered D/P. Considering that they could hardly get any effective support from downstream market, they expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop to around RMB128,000/t (USD8.6/lb V2O5) in the following week.
With a monthly trading volume of 100t, they sold about 1,200t of vanadium pentoxide flake 98%min in 2022 and around 300t so far this year. They expect to sell about 100t in April, the same as last month, holding around 64t of inventories for the moment, up by about 32t MoM.
"Prices of vanadium nitride we inquired dropped to the latest around RMB190,500/t (USD36.3/kg V) delivered D/P, which brought huge dropping pressure on prices of vanadium pentoxide flake 98%min," said a trader in South China. In order to guarantee their monthly sales volume, they dropped their price from RMB131,000/t (USD8.8/lb V2O5) EXW D/P last week to the current RMB130,000/t (USD8.7/lb V2O5). They just sold 32t of vanadium pentoxide flake 98%min at this price level late last week. Considering that downstream vanadium market couldn't offer any effective support now, they predict that the mainstream prices of Chinese vanadium pentoxide flake 98%min would by around RMB3,000/t (USD0.2/lb V2O5) in the coming week.
With a regular trading volume of 120tpm, they sold about 1,720t in 2022 and about 360t in the first three months of 2023. They expect to sell about 120t this month, almost the same as March. They have about 32t of stocks now, unchanged MoM.
"Buyers all prefer to watch the market due to the dropping vanadium alloy prices and we could hardly reduce our inventory pressure. For firm bids, we could accept RMB130,000/t (USD8.7/lb V2O5) EXW D/P for the moment," said another trader in South China. They last sold 32t of vanadium pentoxide flake 98%min at this price level late last week to one of their regular clients after a hard bargain. The buyer only wanted to buy at no more than RMB128,000/t (USD8.6/lb V2O5) at first. However, they ask at least RMB132,000/t (USD8.9/lb V2O5) just one week ago. Prices of ferrovanadium 50%min they inquired dropped to the latest around RMB135,000/t (USD39.6/kg V) delivered D/P. Considering that they could hardly get any effective support from downstream market, they expect that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop to around RMB128,000/t (USD8.6/lb V2O5) in the following week.
With a monthly trading volume of 100t, they sold about 1,200t of vanadium pentoxide flake 98%min in 2022 and around 300t so far this year. They expect to sell about 100t in April, the same as last month, holding around 64t of inventories for the moment, up by about 32t MoM.
