BEIJING (Asian Metal) 12 Mar 20 – Currently, mainstream prices of Chinese ammonium metavanadate 98%min stand at RMB90,000-93,000/t (USD13.0-13.4/kg) Inc-VAT EXW D/P, unchanged from last week. Consumers only make purchase according to urgent need and the demand stays soft. Considering market inventory stays at high level, insiders believe that prices of ammonium metavanadate would keep weak in the coming week.

A producer in Northwest China quotes their ammonium metavanadate 98%min at RMB91,000/t (USD13.1/kg) Inc-VAT EXW D/P and they can accept RMB90,000/t (USD13.0/kg) for firm bids, the same as last week. “We just sold 30t at RMB90,000/t (USD13.0/kg) this Wednesday. It’s no meaning to quote at high price level now as inquiries are rare to see,” said the source. Considering the supply situation stays loose, he believes that prices of ammonium metavanadate 98%min would be weak in the coming week.

With an annual production capacity of 720t, they were out of production in February due to the virus and they plan to produce 40t in March, holding 20t of stocks now.

A consumer in South China noted the current price of ammonium metavanadate 98%min he received stands at RMB93,000/t (USD13.4/kg) EXW D/P and they can buy at RMB91,500/t (USD13.2/kg) for firm bids, the same as last week. “Our last deal was made late last week, when wen bought 32t at RMB91,500/t (USD13.2/kg),” said the source. He added, “Prices of our downstream vanadium products stay at low level and we cannot buy raw materials at higher prices level.” He believes that mainstream prices of ammonium metavanadate would stay weak in the coming week.

With an annual consumption capacity of 400t, they consumed 350t in 2019 and have consumed 50t so far this year. They expect to consume 30t in March, up by 10t from February, holding 32t of stocks now.

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