Chinese Ammonium Metavanadate Prices Drop
BEIJING (Asian Metal) 14 Oct 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB122,000-125,000/t (USD17.2-17.6/kg) Inc-VAT EXW D/P, down by RMB1,000/t (USD0.1/kg) from last week. Though producers try to increase their quotation, most consumers refuse to accept. Considering prices of international vanadium market keep droping, insiders believe prices of ammonium metavanadate would drop slightly in the coming week.
A producer in North China quotes their ammonium metavanadate 98%min at RMB125,000/t (USD17.6/kg) Inc-VAT EXW D/P at the moment and can accept RMB124,000/t (USD17.5/kg) for firm bids, down by RMB1,000/t (USD0.1/kg) from last week. “I received an inquiry for 20t late last week but the buyer only wants to buy at no more than RMB120,000/t (USD16.9/kg),” said the source. He added, “As prices keep dropping, we didn’t close any deals after the National Day holiday.” Their last deal was made late September, when they sold 20t at RMB125,000/t (USD17.6/kg). He believes prices of ammonium metavanadate 98%min would drop by RMB2,000/t (USD0.3/kg) in the coming week.
With an annual production capacity of 1,200t, they produced 80t in September and expect 60t in October, holding 10t of stocks now.
A producer in Northwest China claimed their quotation for ammonium metavanadate 98%min stand at RMB125,000/t (USD17.6/kg) and can accept RMB123,000/t (USD17.4/kg) for firm bids, down by RMB2,000/t (USD0.3/kg) for firm bids. “I heard one buyer in Chongyang just bought 20t at RMB117,500/t (USD16.6/kg) late last week. We are facing high pressure to sell our products now,” said the source. Their last deal was made at the end of September, when they sold 32t at RMB126,000/t (USD17.8/kg). Considering prices of overseas vanadium market keep dropping, he believes prices of ammonium metavanadate 98%min would drop by RMB3,000/t (USD0.4/kg) in the coming week.
With an annual production capacity of 720t, they produced 50t in September and expect 40t in October, holding 15t of stocks now.
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