Chinese Ammonium Metavanadate Prices To Touch The Bottom
BEIJING (Asian Metal) 11 Nov 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB89,000-92,000/t (USD12.7-13.2/kg) Inc-VAT EXW D/P, down by RMB1,000/t (USD0.1/kg) from late last week. Consumers only make purchase according to urgent need and few traders would like to build inventory at the current period. Insiders believe prices of ammonium metavanadate would keep steady in the coming week.
A producer in Southwest China quotes their ammonium metavanadate 98%min at RMB90,000/t (USD12.9/kg) Inc-VAT EXW D/P and can accept RMB89,000/t (USD12.7/kg) for firm bids, down by RMB1,000/t (USD0.1/kg) from late last week. “I received an inquiry for 30t last Friday but the buyer only wanted to buy at no more than RMB75,000/t (USD10.7/kg) Ex-VAT EXW D/P. We refused the buyer directly and we are in a stalemate now,” said the source. He added, “Our last deal was made early last week, when we sold 10t at RMB92,000/t (USD13.2/kg) Inc-VAT EXW D/P.” Though inquiries are hard to see at the moment, considering the cost keeps high, he believes prices of ammonium metavanadate 98%min would stay steady in the coming week.
With an annual production capacity of 720t, they produced 50t in October and expect the same volume in November, holding 30t of stocks now.
A consumer in South China claimed the lowest price for ammonium metavanadate 98%min he received stands at RMB90,000/t (USD12.9/kg) Inc-VAT EXW D/P now, down by RMB2,000/t (USD0.3/kg) from late last week. “We plan to make purchase early this month. As prices keep dropping, we delayed to next week to buy. Few suppliers would like drop their quotation any more and I believe prices have touched the bottom now,” said the source. He added, “We can only buy from producers as few traders has stocks at the moment.” Their last deal was made three weeks ago, when they bought 30t at RMB118,000/t (USD16.9/kg).
With an annual consumption capacity of 600t, they consumed 550t in 2018 and have consumed 450t this year. They expect to consume 50t in November, the same with October. They have 20t of stocks now, down by 5t from last month.
www.asianmetal.com
