Chinese Ammonium Metavanadate Market Keeps Calm
BEIJING (Asian Metal) 23 Apr 20 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RM88,000-90,000/t (USD12.4-12.7/kg) Inc-VAT EXW D/P, up by RMB1,000/t (USD0.1/kg) from last week. Most suppliers refuse to drop their quotation to promote sales and cheap resources reduced significantly in spot market. Insiders believe that mainstream prices of ammonium metavanadate would stay firm in the coming week.
A producer in South China quotes their ammonium metavanadate 98%min at RMB90,000/t (USD12.7/kg) Inc-VAT EXW D/P and won’t accept any discount for firm bids, up by RMB1,000/t from last week. “We sold 10t at RMB89,000/t (USD12.6/kg) late last week,” said the source. He received an inquiry for 20t this week but the buyer only wanted to buy at no more than RMB85,000/t (USD12.0/kg). They refused this order directly. They won’t accept any orders below their quotation now. He believes that mainstream prices of ammonium metavanadate 98%min would stay firm in the coming week.
With an annual production capacity of 2,000t, they were out of production during the past 4 months because of the COVID-19. They are selling the history stocks now, holding about 40t of stocks at the moment.
Another producer in South China quotes their ammonium metavanadate 98%min at RMB90,000/t (USD12.7/kg) Inc-VAT EXW D/P and could accept RMB89,000/t (USD12.6/kg) for firm bids more than 20t, up by RMB1,000/t (USD0.1/kg) from last week. “We sold 12t at RMB88,000/t (USD12.4/kg) to one of our regular clients early last week,” said the source. They are in no hurry to accept new orders at the moment. Though inquiries are rare to see now, as dealing prices are close to their cost line, he believes that prices of ammonium metavanadate 98%min would stay firm in the coming week.
With an production capacity of 360tpy, they produced about 300t in 2019. They expect to produce 20t in April, unchanged from March, holding about 8t of stocks now, the same as last month.
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