Chinese Ammonium Metavanadate Market Sees Weak Demand
BEIJING (Asian Metal) 5 Mar 20 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB90,000-93,000/t (USD13-13.4/kg) Inc-VAT EXW D/P, unchanged from last week. Consumers only make purchase according to urgent need and the demand stays soft. Considering the social inventory stays at high level, insiders believe that prices of ammonium metavanadate would edge down in the coming week.
A producer in North China quotes their ammonium metavanadate 98%min at RMB93,000/t (USD13.4/kg) Inc-VAT EXW D/P and they won’t accept any discount for firm bids now, the same as last week. “It’s hard to close deal at high price level now as inquiries are rare to see. I received one inquiry for 20t this week but the buyer only wanted to buy at no more than RMB88,000/t (USD12.7/kg),” said the source. Their last deal was made early last week, when they sold 30t at RMB93,000/t (USD13.4/kg). He believes that prices of ammonium metavanadate 98%min would drop by RMB1,000/t (USD0.1/kg) in the coming week.
With an annual production capacity of 2,400t, they produced 80t in February, down by 70t from January, holding 80t of stocks now, up by 30t from last month.
A trader in South China quotes their ammonium metavanadate 98%min at RMB92,000/t (USD13.3/kg) EXW D/P and they can accept RMB91,000/t (USD13.1/kg) for fim bids, unchanged from last week. “Our supplier locates in Kazakhstan and we can supply 100tpm in normal. We are looking for consumers but few of them would like to make purchase now,” said the source. He added, “I received an inquiry for 20t this week and the buyer would like to buy at no more than RMB90,000/t (USD13.0/kg). We may sign the sales contract within this week as they can pay immediately.” He believes that prices of ammonium metavanadate 98%min would drop to RMB90,000/t (USD13.0/kg) in the coming week.
With a regular trading volume of 100tpm, they just start to sell this year. They didn’t close deal in February and plan to sell 100t in March, holding 100t of stocks now.
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