Chinese Ammonium Metavanadate Prices Drop
BEIJING (Asian Metal) 6 Dec 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB89,000-92,000/t (USD12.6-13.1/kg) Inc-VAT EXW D/P, down by RMB2,000/t (USD0.3/kg) from this Tuesday. Consumers only make purchase according to urgent need and the market stays in a stalemate. Considering the supply situation keeps loose, insiders believe prices of ammonium metavanadate would stay weak in the coming week.
A producer in North China quoted their ammonium metavanadate 98%min at RMB93,000/t (USD13.2/kg) Inc-VAT EXW D/P and can accept RMB92,000/t (USD13.1/kg) for firm bids, down by RMB1,000/t (USD0.1/kg) from this Tuesady. “We just sold 20t to one of our regular clients at RMB90,000/t (USD12.8/kg) this Thursday. Inquiries from new clients are rare to see at the moment and someone even wanted to buy at no moren than RMB80,000/t (USD11.4/kg),” said the source. He added, “We would rather keep our stocks if prices keep dropping.” 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 600t, they produced 40t in November and expect 30t in December, holding 40t of stocks now.
A producer in South China noted their bottom price for ammonium metavanadate 98%min at RMB90,000/t (USD12.8/kg), down by RMB2,000/t (USD0.3/kg) from this Tuesday. “We mainly supply our regular clients and won’t accept any orders from new clients at the moment as prices keep dropping. I received an inquiry for 30t this Wednesday but the buyer only wanted to buy at no more than RMB89,000/t (USD12.6/kg),” said the source. He added, “Even they accept our quotaion for RMB90,000/t (USD12.8/kg), we won’t consider to sell either. We would hold our inventory and wait prices rebounding.” Their last deal was made late last week, when they sold 20t to one of their regular clients at RMB93,000/t (USD13.2/kg). 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 November and expect 60t in December, holding 120t of stocks now.
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