Chinese Ammonium Metavanadate Prices Move Up
BEIJING (Asian Metal) 11 May 20 – At present, mainstream prices of Chinese ammonium metavanadate 98%min stand at RMB91,500-93,500/t (USD12.9-13.2/kg) Inc-VAT EXW D/P, up by RMB500/t (USD0.1/kg) from last week. Considering prices of downstream vanadium products keep steady, insiders believe that mainstream prices of ammonium metavanadate 98%min would stay firm in the coming week.
A consumer in North China notes the current market prices for ammonium metavanadate 98%min he received stand at around RMB92,000/t (USD13.0/kg) Inc-VAT EXW D/P and could purchase at RMB91,500/t (USD12.9/kg), up by RMB500/t (USD0.1/kg) from last week. “We bought 32t at RMB91,500/t (USD12.9/kg) last Saturday according to our long-term cooperation relationship. It’s hard to find resources in spot market below this price level now,” said the source. Considering prices of downstream vanadium nitride stay steady during the past two weeks, he believes that prices of ammonium metavanadate 98%min would keep firm in the coming week.
With an annual consumption capacity of 600t, they consumed about 350t in 2019 and 90t so far this year. They expect to consume 30t in May, unchanged from April, holding about 32t of stocks now, the same as last month.
A producer in South China quotes their ammonium metavanadate 98%min at RMB95,000/t (USD13.4/kg) Inc-VAT EXW D/P and could accept RMB93,000/t (USD13.1/kg) for firm bids or would not accept any orders, up by RMB1,000/t (USD0.1/kg) from last week. “We sold 20t about 15 days ago at RMB90,000/t (USD12.7/kg). After that, we didn’t sell any ton. We are in no hurry to accept new orders due to the thin profit margin,” said the source. They are build their stocks at the moment and their target price stand at RMB95,000/t (USD13.4/kg). Though few consumers would like to follow, he believes that mainstream prices of ammonium metavanadate 98%min would stand firm in the coming week.
With a production capacity of 720tpy, they produced about 500t in 2019 and about 70t so far this year due to the COVID-19. They expect to produce 50t in May, up by 30t from April, holding about 200t of stocks now, unchanged from last month.
www.asianmetal.com
