Chinese Ammonium Metavanadate Prices Edge Down
BEIJING (Asian Metal) 3 Jan 20 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB88,000-91,000/t (USD12.6-13.1/kg) Inc-VAT EXW D/P, down by RMB1,000/t (USD0.1/kg) from last week. The demand from end consumers keeps soft and the supply situation stays loose. Insiders believe that prices of ammonium metavanadate would edge down in the coming week.
A consumer in South China claimed the current price for ammonium metavanadate 98%min he received stands at RMB93,000/t (USD13.4/kg) Inc-VAT EXW D/P and can buy at RMB91,000/t (USD13.1/kg) for firm bids, down by RMB1,000/t (USD0.1/kg) from last week. “According to what I know, most suppliers are holding high inventory now. Prices may drop furthur before the Spring Festival,” said the source. Their last deal was made this Monday, when they bought 20t at RMB91,000/t (USD13.1/kg). He believes that prices of ammonium metavanadate 98%min would drop to RMB90,000/t (USD12.9/kg) in the coming week.
With an annual consumption capacity of 600t, they consumed 550t in 2018 and 500t in 2019. They consumed 30t in December, down by 15t from November. They have about 30t of stocks now, up by 10t from last month.
A trader in North China claimed the current price for ammonium metavanadate 98%min he received keeps at RMB92,000/t (USD13.2/kg) and can buy at RMB90,000/t (USD12.9/kg) for firm bids, down by RMB2,000/t (USD0.3/kg) from last week. “It’s hard to guarantee our basic profit margin at the current market situation and we prefer to watch the market,” said the source. He added, “I heard that our regular supplier holds about 800t of stocks now.” Their last deal was made early last week, when they sold 20t at RMB92,000/t (USD13.2/kg). Considering the supply situation stay loose, he believes that prices of ammonium metavanadate would drop by RMB2,000/t (USD0.3/kg) in the coming week.
With a regular trading volume of 60tpm, they just start to do this business from June 2019. They sold 40t in December, down by 20t from November, holding no stocks now.
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