BEIJING (Asian Metal) 16 Apr 20 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RM87,000-89,000/t (USD12.3-12.7/kg) Inc-VAT EXW D/P, unchanged from this Monday. Most suppliers face huge inventory pressure and they have to drop their quotation to attract orders. Insiders believe that mainstream prices would stay weak in the coming week.

A producer in North China quotes their ammonium metavanadate 98%min at RMB90,000/t (USD12.7/kg) Inc-VAT EXW D/P and wouldn’t consider to accept discount for firm bids, the same as last week. “We closed a deal for 28t at RMB93,000/t (USD13.2/kg) two weeks ago and we didn’t close any other deals after that due to the dropping trend prices,” said the source. Their regular clients only make purchase according to urgent need now. He only received one inquiry this week, when one regular buyer would like to make purchase for 10t but the buyer only wanted to buy at no more than RMB88,000/t (USD12.5/kg) and they didn’t close the deal at last. Considering most suppliers face great inventory pressure, he believes that mainstream prices of ammonium metavanadate 98%min would keep weak in the coming week.

With an annual production capacity of 1,200t, they produced about 1,000t in 2019 and produced only 50t in the first quarter of 2020. They produced about 20t in March and expect 17t in April, holding about 32t of stocks now, down by about 30t from last month.

A producer in South China quotes at RMB90,000/t (USD12.7/kg) Inc-VAT EXW D/P for their ammonium metavanadate 98%min and could accept RMB88,000/t for firm bids more than 20t, the same as last week. “This Monday, we sold 18t of ammonium metavanadate 99%min at RMB91,500/t (USD13.0/kg) to one our regular clients,” said the source. Their last deal for ammonium metavanadate 98%min was made late last week, when they sold 20t at RMB88,000/t (USD12.5/kg). They are in hurry to reduce their stocks now. He believes that mainstream prices of ammonium metavanadate 98%min would stay weak in the coming week.

With a production capacity of 720tpy, they produced about 500t in 2019 and produced 50t in total in the first quarter this year. They just resumed production last week and expect to produce 20t in April, holding about 200t of stocks at the moment, down by 50t from last month.

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