Chinese Ammonium Metavanadate Prices Decline
BEIJING (Asian Metal) 7 Apr 20 – Currently, mainstream prices of Chinese ammonium metavanadate 98%min stand at RM87,000-90,000/t (USD12.3-12.7/kg) Inc-VAT EXW D/P, down by RMB2,000/t (USD0.3/kg) from last week. As the market inventory stays at a high level, most suppliers face huge sales pressure and they have to drop their quotation to promote sales. Insiders believe that mainstream prices of Chinese ammonium metavanadate would stay in a stalemate in the coming week.
A producer in North China quotes their ammonium metavanadate 98%min at RMB92,000/t (USD13.0/kg) Inc-VAT EXW D/P and they can accept RMB90,000/t (USD12.7/kg) for firm bids, down by RMB2,000/t (USD0.3/kg) from last week. “We sold 15t to one of our regular clients at RMB88,000/t (USD12.4/kg) last Friday. And we sold another 15t at RMB87,000/t (USD12.3/kg) at the same day just to mainstain the cooperation relationship,” said the source. For their new clients, they would insist on RMB90,000/t (USD12.7/kg) for firm bids. Considering inquiries are rare to see, he believes that mainstream prices of ammonium metavanadate 98%min would be weak in the coming week.
With an annual production capacity of 2,400t, they produced aout 100t in March and expect the same volume in April, holding about 80t of stocks now.
A producer in South China quotes their ammonium metavanadate 98%min at RMB90,000/t (USD12.7/kg) Inc-VAT EXW D/P and they can accept RMB88,000/t (USD12.4/kg) for firm bids, down by RMB2,000/t (USD0.3/kg) from last week. “We just sold 10t at RMB89,000/t (USD12.6/kg) and 5t at RMB88,000/t (USD12.4/kg) late last week,” said the source. He added, “We even closed a deal with our regular client at RMB87,000/t (USD12.3/kg) for orders less than 1t last week.” Considering the cost keeps high, he believes that mainstream prices would keep in a stalemate in the coming week.
With an annual production capacity of 360t, they produced about 20t in March and expect the same volume in April, holding about 5t of stocks now.
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