Benxi Steel Plans To Make Purchase For Vanadium Nitride This Week

BEIJING (Asian Metal) 25 Sep 19 – Benxi Iron And Steel Group Co. LTD plans to make purchase of 30t vanadium nitride within this week for urgent need.

“We need to buy 30t of vanadium nitride before the National Day and our target price keeps at no more than RMB200,000/t (USD36.5/kg V) delivered D/A 180 days,” said the source. He added, they only make purchase for urgent need at the moment. They would build stock after the National Day holiday. He received the quotation for vanadium pentoxide flake 98%min stands at RMB130,000/t (USD8.4/lb V2O5) EXW D/A 180 days, unchanged from last week. The current price of vanadium nitride is nearly the cost.

Located in Benxi Liaoning, with an annual consumption capacity of 600t, they consumed 360t in 2018 and have consumed 270t so far this year. They expect to consume 30t in September, the same with August, holding 15t of stocks now, unchanged from last month.

This Wednesday, mainstream prices for Chinese vanadium nitride stand at RMB197,000-200,000/t (USD36.0-36.5/kg V) EXW D/A 180 days, up by RMB1,000/t (USD0.2/kg V) from this Tuesday.