BEIJING (Asian Metal) 10 May 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min are RMB137,000-140,000/t (USD9.3-9.5/lb V) Inc-VAT EXW D/P, down by RMB18,000/t (USD1.2/lb V) from last week. Inquiries are hard to see at the moment and the market keeps quiet. Insiders believe prices of this material would keep dropping in the coming week.

A producer in Northwest China quotes ammonium metavanadate 98%min at RMB140,000/t (USD9.5/lb V) Inc-VAT EXW D/P now and won’t accept any discount, down by RMB18,000/t (USD1.2/lb V) from last week. “Prices are dropping too quick now and our clients are watching the market. It’s hard to close deals at the moment,” said the source. Their last deal was made early this week, when they sold 30t at RMB152,000/t (USD10.3/lb V). Considering the demand keeps weak, he believes prices of this material would drop by RMB10,000/t (USD0.7/lb V) in the coming week.

With an annual production capacity of 2,400t for ammonium metavanadate, the producer produced 200t in April and expects 150t in May for lack of orders, holding 60t of stocks now.

A consumer in South China notes the offer for ammonium metavanadate 98%min he received keeps at RMB140,000/t (USD9.5/lb V) Inc-VAT EXW D/P, and the lowest price of the supplier could be RMB138,000/t (USD9.4/lb V) for firm bids, down by RMB20,000/t (USD1.4/lb V) from last week. “According to orders of downstream vanadium products, current prices of raw material ammonium metavanadate are still too expensive. Acturally, I can at most accept no more than RMB130,000/t (USD8.8/lb V),” said the source. Their last deal was made early last week, when they bought 60t at RMB158,000/t (USD10.7/lb V). He added, “Though no suppliers would like to supply at our target price level now, I believe some of them would soon be.” He believes prices of this material would drop to RMB130,000/t (USD8.8/lb V) in the coming week.

With an annual consumption capacity of 1,000t for ammonium metavanadate, the consumer used 60t in April and expects the same volume in May, holding 30t of stocks now.

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