Chinese Vanadium Nitride Market Keeps In A Stalemate
BEIJING (Asian Metal) 24 Sep 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB196,000-199,000/t (USD35.7-36.3/kg V) EXW D/A 180 days, up by RMB1,000/t (USD0.2/kg V) from last week. As the cost keeps high, few producers would like to accept orders at low price level. Insiders believe prices of vanadium nitride would stay in a stalemate in the coming week.
A producer in South China quoted their vanadium nitride at RMB200,000/t (USD36.5/kg V) EXW D/A 180 days and can accept RMB199,000/t (USD36.3/kg V) for firm bids at the moment, up by RMB1,000/t (USD0.2/kg V) from last week. “We have filled October orders before 20 September and our last deal was made last Friday, when we sold 30t at RMB198,000/t (USD36.1/kg V),” said the source. He added, “The current price for raw material vanadium pentoxide flake 98%min I received stands firm at RMB130,000/t (USD8.4/lb V2O5).” As the cost keeps high, he believes dealing prices of vanadium nitride would increase to RMB200,000/t (USD36.5/kg V) in the coming week.
With an annual production capacity of 2,000t for vanadium nitride, they produced 150t in August and expect the same volume in September, holding no stock now.
A producer in Northwest China noted their lowest quotation for their vanadium nitride stands at RMB198,000/t (USD36.1/kg V) EXW D/A 180 days at the moment, up by RMB1,000/t (USD0.2/kg V) from last week. “As the cost keeps high, we tried to increase our quotation for vanadium nitride and waiting for steel mills to accept at the end of this month,” said the source. He said the current price for vanadium pentoxide flake 98%min he received stands at RMB128,000/t (USD8.3/lb V2O5) EXW D/P now, unchanged from last week. However, as steel mills refuse to accept at more than RMB200,000/t (USD36.5/kg V), he believes prices of vanadium nitride would stay steady in the coming week.
With an annual production capacity of 1,440t for vanadium nitride, they expect to produce 120t in September, unchanged from August, holding 20t of stocks now.
www.asianmetal.com
