BEIJING (Asian Metal) 17 Jun 20 – At the moment, most consumers only purchase ammonium metavanadate according to urgent need and the market keeps quiet. Mainstream prices of Chinese ammonium metavanadate 98%min stand at RMB103,000-105,000/t (USD14.6-14.8/kg) Inc-VAT EXW D/P now, up by RMB1,000/t (USD0.1/kg) from early last week. Few suppliers have inventory pressure but considering inquiries stay rare, insiders believe that mainstream prices of ammonium metavanadate 98%min would stay in a stalemate in the coming week.

“I didn’t receive any inquiries during the past week but we have no plan to drop our price to promote sales, as we have no too much inventory pressure now,” a producer in South China said. Their last deal was made about 10 days ago, when they sold 30t at RMB104,000/t (USD14.7/kg) Inc-VAT EXW D/P. They are producing for their regular clients at the moment and they insist on RMB105,000/t (USD14.8/kg) or would not accept any orders. Considering inquiries stay rare, he believes that mainstream prices of ammonium metavanadate 98%min would keep in a stalemate in the coming week.

With an annual production capacity of 1,000t, they produced about 720t in 2019 and about 200t so far this year. They expect to produce about 50t in June, up by 20t from May, holding about 30t of stocks now, up by 10t from last month.

“We couldn’t accept any orders for immediate shipment within this month as we are producing for the signed orders now,” a producer in Northwest China said. They signed 20t early last week at RMB102,000/t (USD14.4/kg) Inc-VAT EXW D/P and would deliver one week later. They ask for RMB104,000/t (USD14.7/kg) this week or would not accept any orders. They prefer to accept new orders from early July when they would build their own stocks. As the market keeps quiet, he believes that mainstream prices of ammonium metavanadate 98%min would keep steady in the coming week.

With a production capacity of 840tpy, they produced about 350t in 2019 and about 250t in the first five months of 2020. They produced about 20t in May and expect about 40t in June. They have about 15t of safety stocks now, down by 45t from last month.

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