Chinese Ammonium Metavanadate Market Keeps Calm
BEIJING (Asian Metal) 16 Jan 20 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stay at RMB88,000-91,000/t (USD12.8-13.2/kg) Inc-VAT EXW D/P, unchanged from this Monday. Suppliers hold their stocks and they are in no hurry to sell. At the same time, consumers delay to make purchase. Insiders believe that the market of ammonium metavanadate would stay calm in the coming week.
A producer in South China mentioned their ammonium metavanadate 98%min at RMB92,000/t (USD13.3/kg) Inc-VAT EXW D/P and they can accept RMB91,000/t (USD13.2/kg) for firm bids, unchanged from last week. “Inquiries from new clients are rare to see at the moment and our regular clients delay to make purchase until after the Spring Festival,” said the source. He added, “I received an inquiry for 20t this Monday but the buyer only wanted to buy at no more than RMB88,000/t (USD12.8/kg).” Their last deal was made two weeks ago, when they sold 30t at RMB91,000/t (USD13.2/kg). They are in no hurry to accept new orders at the moment. Considering inquiries stay quiet, he believes that prices of ammonium metavanadate would be steady in the coming week.
With an annual production capacity of 840t, they produced 60t in last December and expect 40t in this January, holding 80t of stocks now.
A consumer in South China noted the current price for ammonium metavanadate 98%min he received stands at RMB91,000/t (USD13.2/kg) Inc-VAT EXW D/P and they can buy at RMB90,000/t (USD13.1/kg) for firm bids, unchanged from last week. “We only make purchase according to urgent need as prices may drop further after the Spring Festival. Our last deal was made early this week, when we bought 12t at RMB90,000/t (USD13.1/kg),” said the source. He added, “Most of our suppliers hold high inventory level now and supply situation in spot market keeps loose.” Considering the physical distribution would stop from this week, he believes that prices of ammonium metavanadate would hold steady in the coming week.
With an annual consumption capacity of 240t, they consumed 180 in 2019, down by 40t from 2018. They expect to consume 15t in January, down by 5t from last December. They have 20t of stocks now, the same as last month.
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