BEIJING (Asian Metal) 8 May 20 – Currently, mainstream prices of Chinese ammonium metavanadate 98%min stand at RMB91,000-93,000/t (USD12.8-13.1/kg) Inc-VAT EXW D/P, up by RMB1,000/t (USD0.1/kg) from last week. Few suppliers would like to drop their quotation to promote sales due to the thin profit margin and low price resources in spot market reduced significantly. Insiders believe that mainstream prices of ammonium metavanadate would stay firm in the coming week.

A producer in North China quotes their ammonium metavanadate 98%min at RMB94,000/t (USD13.3/kg) Inc-VAT EXW D/P and could accept RMB93,000/t (USD13.1/kg) for firm bids more than 20t, up by RMB2,000/t (USD0.3/kg) from last week. “We sold 20t at RMB93,000/t (USD13.1/kg) this Tuesday and we even sold small volume at RMB94,000/t (USD13.3/kg) to our regular clients at the same day,” said the source. Considering major producers of vanadium pentoxide flake 98%min insist on their quotation during the past two weeks, he believes that prices of ammonium metavanadate 98%min would stay in a stalemate in the coming week.

With an annual production capacity of 600t, they produced about 360t in 2019 and about 130t so far this year. They expect to produce 40t in May, unchanged from April, holding about 40t of stocks now, down by 40t from last month.

A producer in Northwest China quotes their ammonium metavanadate 98%min at RMB95,000/t (USD13.4/kg) Inc-VAT EXW D/P and could accept RMB93,000/t (USD13.1/kg) for firm bids, up by RMB1,000/t (USD0.1/kg) from last week. “We didn’t close any deals above RMB93,000/t (USD13.1/kg) during the past two weeks though our quotation increased to RMB95,000/t (USD13.4/kg). We sold 22t at RMB93,000/t (USD13.1/kg) this Tuesday,” said the source. Considering inquiries are rare to see at the moment, he believes that mainstream prices of ammonium metavanadate 98%min would keep steady in the coming week.

With a production capacity of 2,400tpy, they produced about 2,000t in 2019 and about 410t so far this year. They expect to produce 160t in May, unchanged from April, holding about 40t of stocks now, down by 20t from last month.

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