Chinese Ammonium Metavanadate Prices Increase
BEIJING (Asian Metal) 23 Apr 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min are RMB153,000-156,000/t (USD10.6-10.8/lb V) Inc-VAT EXW D/P, up by RMB3,000/t (USD0.2/lb V) from last week. As the environmental protection policy is strictly enforced in main production area, producers are trying to increase their quotation. However, considering the demand keeps weak, insiders believe prices of this material would keep steady in the coming week.
A producer in North China quotes ammonium metavanadate 98%min at RMB158,200/t (USD10.9/lb V) Inc-VAT EXW D/P and can sell at RMB156,000/t (USD10.8/lb V) for firm bids at the moment, up by RMB3,000/t (USD0.2/lb V) from last week. “I received an inquiry early this week, one regular client wants to buy 10t of ammonium metavanadate 98%min at no more than RMB147,000/t (USD10.1/lb V). We didn’t close the deal as this price level is too low,” said the source. He added, the environmental protection policy is strictly enforced in their local area, which would limit their production. However, considering the demand keeps weak, he believes prices of this material would be steady in the coming week.
With an annual production capacity of 1,000t for ammonium metavanadate, they produced 60t in March and expect 50t in April for lack of orders, holding 20t of stock now. A producer in South China offers ammonium metavanadate 98%min at RMB156,000/t (USD10.8/lb V) Inc-VAT EXW D/P and can sell at RMB155,000/t (USD10.7/lb V) at the moment, up by RMB2,000/t (USD0.1/lb V) from last week. “I didn’t receive any inquiries in the past week. Nearly all of our regular clients are watching the market and waiting prices drop to RMB110,000/t (USD7.6/lb V),” said the source. He added, “To be honest, I won’t accept any orders for prices lower than our quotation as the production are limited by environment protection policy. ” He believes prices of this material would be steady in the coming week.
With an annual production capacity of 840t for ammonium metavanadate, they produced 40t in March and expect the same volume in April, holding 10t of stock now.
www.asianmetal.com
