BEIJING (Asian Metal) 13 Mar 20 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB145,000-148,000/t (USD26.9-27.4/kg V) EXW D/A 180 days, down by RMB2,000/t (USD0.4/kg V) from last week. Most consumers only make purchase according to urgent need and the market demand stays soft. Insiders believe that prices of Chinese vanadium nitride would keep weak in the coming week.

A consumer in South China noted the current price for vanadium nitride he received stands at RMB147,000/t (USD27.3/kg V) EXW D/A 180 days and they can buy at RMB146,000/t (USD27.1/kg V) for firm bids, down by RMB1,000/t (USD0.2/kg V) from last week. “We make purchase at the start of every month. Our last deal was made early last week, when we bought 90t at RMB147,000/t (USD27.3/kg V) Delivered D/A 180 days,” said the source. He added, “The demand of downstream rebar stays soft, which would not support prices of raw material vanadium nitride.” He believes that prices of vanadium nitride would keep weak in the coming week.

With an annual consumption of 1,200t, they consumed 1,050t in 2019 and have consumed 210t so far this year. They expect to consume 90t in March, up by 10t from February, holding 90t of stocks now.

A consumer in North China quotes the current price for vanadium nitride he received stands at RMB146,000/t (USD27.1/kg V) EXW D/A 180 days and they can buy at RMB145,000/t (USD26.9/kg V) for firm bids, down by RMB1,000/t (USD0.2/kg V) from last week. “Our last deal was made last Monday, when we bought 30t at RMB146,000/t (USD27.1/kg V),” said the source. He added, “We would not make purchas in the coming two months as we would have an overhaul. The volume we just bought can use for two months.” He believes that mainstream prices of Chinese vanadium nitride would be weak in the coming week.

With an anual consumption capacity of 400t, they consumed 360t in 2019 and have consumed 60t so far this year. They expect to consume 10t in March, down by 20t from February, holding 30t of stocks now, unchange from last month.

www.asianmetal.com