Chinese ammonium metavanadate prices drop
Date: Nov 16, 2018
BEIJING (Asian Metal) 16 Nov 18 – At present, mainstream prices of Chinese ammonium metavanadate 98%min drop to RMB447,000-450,000/t (USD29.86-30.06/lb V) Inc-VAT EXW D/P, down by RMB17,000/t (USD1.14/lb V) from last Friday. Downstream demand keeps weak, and some producers stopped quoting.
A producer in North China quotes ammonium metavanadate 98%min at RMB452,000/t (USD30.10/lb V) at present, down by RMB18,000/t (USD1.20/lb V) from last week. “As prices keep decreasing, our clients are watching market now. We haven’t made any deal since early November, and we have to drop prices to reduce stock,” said the source. Their last deal was made in late October, when they sold 20t at RMB490,000/t (USD32.73/lb V). As none of his clients makes purchase at the moment, he believes prices of Chinese ammonium metavanadate 98%min would drop to RMB410,000/t (USD27.38/lb V) in the coming week.
