BEIJING (Asian Metal) 24 Apr 20 – With an annual consumption capacity of 840t for vanadium nitride, Shougang Group Changzhi Steel Co., LTD started to purchase their vanadium nitride for May from April 22.

“We bought 10t of vanadium nitride at RMB143,800/t (USD26.4/kg V) delivered D/A 180 days on April 22. Our suppliers quoted at around RMB145,000/t (USD26.6/kg V) and we chose the lowest one,” said the source. They need to buy about 60t of vanadium nitride in total for May and they would finish the purchase in the coming week. Their target price stays at around RMB145,000/t (USD26.6/kg V).

Located in Changzhi, Shanxi, they expect to 60t in April, almost the same as March, holding about 20t of stocks at the moment.

At present, mainstream prices of Chinese vanadium nitride stand at RMB142,000-145,000/t (USD26.0-26.6/kg V) EXW D/A 180 days, up by RMB3,000/t (USD0.6/kg V) from last week. Most suppliers are trying to increase their quotation and bidding prices of major steel mills keep following up slowly.

www.asianmetal.com