BEIJING (Asian Metal) 13 Mar 20 – With an annual consumption capacity of 840t for vanadium nitride, Shougang Group Changzhi Steel Co., LTD plans to make additional purchase for 45t of vanadium nitride this Friday.

“We bought 10t of vanadium nitride at RMB146,800/t (USD27.2/kg V) Delivered D/A 180 days on March 5. We plan to buy another 45t this Friday and our target price stays at no more than this price level,” said the source. As market prices face high downward trend, they just tried to buy a small volume last week to test the market. Considering the supply situation in spot market keeps loose, she believes that prices of Chinese vanadium nitride would stay weak in the coming week.

Located in Changzhi, Shanxi, they expect to consume 55t in March, up by 5t from February, holding 20t of stocks now, down by 40t from last month.

Currently, mainstream prices for Chinese vanadium nitride stand at RMB145,000-148,000/t (USD26.9-27.4/kg V) EXW D/A 180 days, down by RMB2,000/t (USD0.4/kg V) from last week.

www.asianmetal.com