Chinese vanadium pentoxide powder prices decline
2023-04-20 08:23:11 [Print]
BEIJING (Asian Metal) 20 Apr 23 - As downstream vanadium alloy prices kept moving down, Chinese vanadium pentoxide powder 98%min market couldn't get effective support and the market mentality stayed negative during the past week. Currently, the mainstream prices of Chinese vanadium pentoxide powder 98%min stand at RMB113,000-115,000/t (USD7.6-7.7/lb V2O5) EXW D/P, down by RMB5,000/t (USD0.3/lb V2O5) from late last week. Considering that the sufficient supply continues and most buyers prefer to watch the market, insiders predict that the mainstream prices of Chinese vanadium pentoxide powder 98%min would keep declining in the following week.
"In view of the dropping vanadium alloy prices, we could hardly maintain our vanadium pentoxide powder 98%min price firm. In order to guarantee our market competitiveness, we could accept RMB113,000/t (USD7.6/lb V2O5) EXW D/P now," said a trader in South China. They just sold 10t of vanadium pentoxide powder 98%min at this price level this Tuesday. However, they refused to accept any inquiries below RMB118,000/t (USD7.9/lb V2O5) just one week ago. Considering that most buyers prefer to watch the market and they could see little inquiries now, they predict that the mainstream prices of Chinese vanadium pentoxide powder 98%min would drop below RMB110,000/t (USD7.4/lb V2O5) in the following week.
With a regular trading volume of 30tpm, they sold about 360t in 2022 and about 100t so far this year. They expect to sell around 30t this month, the same as March, holding about 20t of regular stocks now, unchanged MoM.
"No any buyers call me so far this week and we have to drop price to attract buyers' interest. For firm bids, we could accept RMB115,000/t (USD7.7/lb V2O5) EXW D/P now," said another trader in South China. They called one of their major clients and sold 20t of vanadium pentoxide powder 98%min at this price this Tuesday, when they insisted on RMB116,000/t (USD7.8/lb V2O5) at that time. Considering that downstream vanadium alloy market could offer little effective support now, they expect that the mainstream prices of Chinese vanadium pentoxide powder 98%min would move down by around RMB5,000/t (USD0.3/lb V2O5) in the coming week.
With a monthly trading volume of 60t, they sold about 700t in 2022 and about 200t so far this year. They expect to sell around 60t in April, the same volume as last month. They have about 30t of stocks now, unchanged MoM.
"In view of the dropping vanadium alloy prices, we could hardly maintain our vanadium pentoxide powder 98%min price firm. In order to guarantee our market competitiveness, we could accept RMB113,000/t (USD7.6/lb V2O5) EXW D/P now," said a trader in South China. They just sold 10t of vanadium pentoxide powder 98%min at this price level this Tuesday. However, they refused to accept any inquiries below RMB118,000/t (USD7.9/lb V2O5) just one week ago. Considering that most buyers prefer to watch the market and they could see little inquiries now, they predict that the mainstream prices of Chinese vanadium pentoxide powder 98%min would drop below RMB110,000/t (USD7.4/lb V2O5) in the following week.
With a regular trading volume of 30tpm, they sold about 360t in 2022 and about 100t so far this year. They expect to sell around 30t this month, the same as March, holding about 20t of regular stocks now, unchanged MoM.
"No any buyers call me so far this week and we have to drop price to attract buyers' interest. For firm bids, we could accept RMB115,000/t (USD7.7/lb V2O5) EXW D/P now," said another trader in South China. They called one of their major clients and sold 20t of vanadium pentoxide powder 98%min at this price this Tuesday, when they insisted on RMB116,000/t (USD7.8/lb V2O5) at that time. Considering that downstream vanadium alloy market could offer little effective support now, they expect that the mainstream prices of Chinese vanadium pentoxide powder 98%min would move down by around RMB5,000/t (USD0.3/lb V2O5) in the coming week.
With a monthly trading volume of 60t, they sold about 700t in 2022 and about 200t so far this year. They expect to sell around 60t in April, the same volume as last month. They have about 30t of stocks now, unchanged MoM.
