Chinese Ammonium Metavanadate Prices Drop
BEIJING (Asian Metal) 14 Aug 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB140,000-143,000/t (USD19.8-20.2/kg) Inc-VAT EXW D/P, down by RMB7,000/t (USD1.0/kg) from last week. Consumers only make purchase according to urgent need and the demand keeps soft. Insiders believe prices of ammonium metavanadate would edge down in the coming week.
A producer in Southwest China quotes their ammonium metavanadate 98%min at RMB146,000/t (USD20.7/kg) Inc-VAT EXW D/P at the moment. Their last deal was made this Monday, when they sold 20t at RMB143,000/t (USD20.2/kg), down by RMB5,000/t (USD0.7/kg) from last week. “The buyer is one of our regular clients and they just want to buy at no more than RMB140,000/t (USD19.8/kg) for 30t. We gave them a big discount of RMB3,000/t (USD0.4/kg) but they only purchased 20t for urgent need,” said the source. He added, “The buyer will buy another 10t in near term and their target price is at most RMB138,000/t (USD19.5/kg).” Considering inquiries are hard to see at the moment, he believes prices of ammonium metavanadate 98%min would drop to RMB140,000/t (USD19.8/kg) in the coming week.
With an annual production capacity of 720t for ammonium metavanadate, the producer produced 50t in July and expects the same volume in August, holding 20t of stocks now.
A producer in South China claimed their quotation for ammonium metavanadate 98%min at RMB150,000/t (USD21.2/kg) Inc-VAT EXW D/P now. Their latest deal was made this Tuesday, when they sold 30t at RMB140,000/t (USD19.8/kg), down by RMB10,000/t (USD1.4/kg) from last week. “Our clients refuse to accept any higher prices. It’s hard to close deals above RMB140,000/t (USD19.8/kg) now,” said the source. Their last deal was made early last week, when they sold 10t at RMB150,000/t (USD21.2/kg). Considering the stock keeps high, he believes 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 960t for ammonium metavanadate, the source produced 70t in July and expects the same volume in August. They have about 30t for inventory now.
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