BEIJING (Asian Metal) 30 Jun 20 – Currently, mainstream prices of Chinese ammonium metavanadate 98%min stand at RMB100,000-102,000/t (USD14.1-14.4/kg) Inc-VAT EXW D/P, unchanged from last Wednesday. Most suppliers prefer to watch the market as inquiries from end consumers stay rare. Considering the market keeps quiet, insiders believe that mainstream prices of ammonium metavanadate 98%min would stay in a stalemate in the coming week.

“Our last deal was made about two weeks ago, when we sold 20t at RMB98,000/t (USD13.9/kg) Inc-VAT EXW D/P. This Monday, our regular clients call me that they wants to buy at no more than RMB95,000/t (USD13.4/kg), we refused them directly. They added to RMB96,000/t (USD13.6/kg), we didn’t accept either,” a producer in North China said. They quote RMB100,000/t (USD14.1/kg) at the moment and didn’t change the quotation during the past week. As they have no inventory pressure, they won’t accept any orders below their bottom price at the moment. Though inquiries stay rare, he believes that mainstream prices of ammonium metavanadate 98%min would stay firm in the coming week.

With an annual production capacity of 600t, they produced about 360t in 2019 and about 210 so far this year. They expect to produce 40t in June, unchanged from May, holding about 10t of stocks now, up by 5t from last month. In normal, they would hold about 40t as regular stocks.

“We always quote RMB102,000/t (USD14.4/kg) Inc-VAT EXW D/P during the past week but inquiries stay rare. I don’t think drop prices could promote sales,” a producer in South China noted. Their last deal was made about one week ago, when they sold 10t to one of their regular clients at RMB100,000/t (USD14.1/kg). Considering they have long-term cooperation, they offered a discount of RMB2,000/t (USD0.3/kg) to the buyer. As the demand of their regular clients stay steady during the past month, he believes that mainstream prices of ammonium metavanadate 98%min would keep steady in the coming week.

With a production capacity of 1,000tpy, they produced about 790t in 2019 and about 300t so far this year. They produced about 20t in May due to the overhaul and expect 80t in June, holding about 80t of stocks now, down by 20t from last month.

www.asianmetal.com