Chinese vanadium pentoxide flake prices keep dropping
2023-04-23 08:11:51 [Print]
BEIJING (Asian Metal) 23 Apr 23 - Due to the sufficient supply and slumping vanadium alloy prices, Chinese vanadium pentoxide flake 98%min price lost its support and the market mentality stayed negative during the past week. Currently, the mainstream prices of Chinese vanadium pentoxide flake 98%min stand at RMB113,000-115,000/t (USD7.6-7.7/lb V2O5) EXW D/A 180 days, down by RMB7,000/t (USD0.5/lb V2O5) from this Monday. Considering that most buyers prefer to watch the market market inquiries keep rare, insiders believe that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop further in the coming week.
"Vanadium nitride prices we inquired dropped to the latest around RMB170,000/t (USD34.1/kg V) delivered D/P and no consumers would like to purchase vanadium pentoxide flake 98%min at any prices above RMB113,000/t (USD32.4/kg V) EXW D/P now," said a producer in North China. In order to avoid building inventory, they chose to drop their price to increase their market competitiveness. They last sold 32t of vanadium pentoxide flake 98%min at RMB115,000/t (USD7.7/lb V2O5) about four days ago and could accept RMB113,000/t (USD7.6/lb V2O5) now. 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 below RMB110,000/t (USD7.4/lb V2O5) in the coming week.
With an annual production capacity of 1,800t, they produced about 1,340t in 2022 and about 370t so far this year. They expect to produce about 130t this month, the same as last month, holding no inventory for the moment, unchanged MoM.
"Major producers dropped their long-term contract price to RMB113,000/t (USD7.6/lb V2O5) EXW D/P this Friday and we had to follow up to guarantee our market competitiveness," said a trader in South China. They just sold about 32t of vanadium pentoxide flake 98%min at this price level this Friday. However, thy refused to sell at any prices below RMB117,000/t (USD7.9/lb V2O5) this Monday. Prices of vanadium nitride they inquired dropped to the latest around RMB169,000/t (USD32.2/kg V) delivered D/A 180 days. Considering that terminal users couldn't offer any positive influence, they predict that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop by at least RMB3,000/t (USD0.2/lb V2O5) in the following week.
With a regular trading volume of 120tpm, they sold about 1,720t in 2022 and about 360t so far in 2023. They expect to sell about 120t in April, almost the same as March. They have about 32t of inventories for the moment, unchanged MoM.
"Vanadium nitride prices we inquired dropped to the latest around RMB170,000/t (USD34.1/kg V) delivered D/P and no consumers would like to purchase vanadium pentoxide flake 98%min at any prices above RMB113,000/t (USD32.4/kg V) EXW D/P now," said a producer in North China. In order to avoid building inventory, they chose to drop their price to increase their market competitiveness. They last sold 32t of vanadium pentoxide flake 98%min at RMB115,000/t (USD7.7/lb V2O5) about four days ago and could accept RMB113,000/t (USD7.6/lb V2O5) now. 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 below RMB110,000/t (USD7.4/lb V2O5) in the coming week.
With an annual production capacity of 1,800t, they produced about 1,340t in 2022 and about 370t so far this year. They expect to produce about 130t this month, the same as last month, holding no inventory for the moment, unchanged MoM.
"Major producers dropped their long-term contract price to RMB113,000/t (USD7.6/lb V2O5) EXW D/P this Friday and we had to follow up to guarantee our market competitiveness," said a trader in South China. They just sold about 32t of vanadium pentoxide flake 98%min at this price level this Friday. However, thy refused to sell at any prices below RMB117,000/t (USD7.9/lb V2O5) this Monday. Prices of vanadium nitride they inquired dropped to the latest around RMB169,000/t (USD32.2/kg V) delivered D/A 180 days. Considering that terminal users couldn't offer any positive influence, they predict that the mainstream prices of Chinese vanadium pentoxide flake 98%min would drop by at least RMB3,000/t (USD0.2/lb V2O5) in the following week.
With a regular trading volume of 120tpm, they sold about 1,720t in 2022 and about 360t so far in 2023. They expect to sell about 120t in April, almost the same as March. They have about 32t of inventories for the moment, unchanged MoM.
