BEIJING (Asian Metal) 12 Feb 20 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB93,000-96,000/t (USD13.3-13.8/kg) Inc-VAT EXW D/P, up by RMB1,000/t (USD0.1/kg) from last week. As most producers are out of production and the physical distribution cannot work during the special period in China. Insiders believe that prices of Chinese ammonium metavanadate 98%min would keep increasing in the coming week.

A producer in North China quotes their ammonium metavanadate 98%min at RMB96,000/t (USD13.8/kg) Inc-VAT EXW D/P and they can accept RMB95,000/t (USD13.6/kg) for firm bids, up by RMB2,000/t (USD0.3/kg) from last week. “We are in no hurry to accept orders at the moment unless the buyer can transport by themself. The physical distribution can’t work during the special time in China now,” said the source. Their last deal was made late January when they sold 30t at RMB92,000/t (USD13.2/kg). Considering the supply situation stays tight, he believes that prices of Chinese ammonium metavanadate 98%min would increase by RMB2,000/t (USD0.3/kg) in the coming week.

With an annual production capacity of 1,500t, they produced 1,000t in 2019, down by 300t from 2018. They produced 60t in January and won’t produce in February, holding 50t of stocks now, down by 50t from last month.

A consumer in South China noted the current price for ammonium metavanadate 98%min he received increased to RMB95,000/t (USD13.6/kg) Inc-VAT EXW D/P, up by RMB3,000/t (USD0.4/kg) from last week. “We are consuming the history inventory now and we can still use for two weeks. As the physical distribution can’t work, it’s hard for us to get enough raw materials in spot market,” said the source. Their last deal was made at the end of last month, when they bought 40t at RMB91,000/t (USD13.0/kg). He believes that prices of Chinese ammonium metavanadate 98%min would edge up by RMB1,000/t (USD0.1/kg) in the coming week.

With an annual consumption capacity of 500t, they consumed 450t in 2019, the same as 2018. They expect to consume 40t in February, unchanged from last month. They have 20t in hands now, down by 20t from late last month.

www.asianmetal.com