Chinese Ammonium Metavanadate Prices Drop
BEIJING (Asian Metal) 29 Nov 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB93,000-96,000/t (USD13.2-13.6/kg) Inc-VAT EXW D/P, down by RMB4,000/t (USD0.6/kg) from last week. Suppliers refuse to drop their quotation to promote sales and buyers refuse to buy at high price level, which leads the market in a stalemate. Insiders believe prices of ammonium metavanadate would edge down in the coming week.
A producer in Northwest China quotes their ammonium metavanadate 98%min at RMB96,000/t (USD13.6/kg) Inc-VAT EXW D/P and can accept RMB95,000/t (USD13.5/kg) for firm bids, down by RMB3,000/t (USD0.4/kg) from last week. “We are in no hurry to sell at the moment as few buyers would like to buy at higher price level. I received an inquiry for 20t this Wednesday and the buyer wanted to buy at no more than RMB92,000/t (USD13.1/kg),” said the source. He added, “We prefer to further processing into vanadium pentoxide flake, then we can sell at a higher price.” Their last deal was made early last week, when they sold 20t at RMB97,000/t (USD13.8/kg). Considering inquiries are rare to see, 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 1,000t, they produced 80t in October and expect 60t in November, holding 60t of stocks now.
A trader in South China claimed the lowest price for ammonium metavanadate 98%min he received stands at RMB93,000/t (USD13.2/kg) Inc-VAT EXW D/P now, down by RMB3,000/t (USD0.4/kg) from last week. “Our last deal was made early last week, when we bought 20t at RMB96,000/t (USD13.6/kg). The same supplier quotes RMB94,000/t (USD13.4/kg) this week and would offer a discount of RMB1,000/t (USD0.1/kg) only for us,” said the source. He added, “As the cost keeps high, most suppliers would rather to hold their stocks and I believe prices would edge down in the coming week,” He believes prices of ammonium metavanadate 98%min would drop to the bottom at RMB90,000/t (USD12.8/kg) in the coming week.
With a regular trading volume of 60tpm, they sold 700t in 2018 and have sold 600t this year. They expect to sell 50t in November, down by 10t from October, holding 30t of stocks now, up by 15t from late last month.
www.asianmetal.com
