Chinese Vanadium Nitride Market Keeps Quiet
BEIJING (Asian Metal) 25 Dec 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB146,000-149,000/t (USD27.1-27.6/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from this Monday. As the demand from end consumers keeps soft, suppliers are facing high pressure to close deals at high price level. However, considering the cost stays high, insiders believe that prices of vanadium nitride would keep firm in the coming week.
A producer in South China quotes their bottom price for vanadium nitride at RMB148,000/t (USD27.4/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from this Monday. “I received an inquiry for 30t from a trader this Tuesday but they only wanted to buy at no more than RMB143,000/t (USD26.5/kg V) EXW D/P. If this price level is acceptable, we would have finished too many orders,” said the source. Their last deal was made early last week, when they sold 30t at RMB149,000/t (USD27.6/kg V). Considering the bidding volume of major steel mills before the Spring Festival is expective, he believes that prices of vanadium nitride would stay firm in the coming week.
With an annual production capacity of 1,200t, they produced 80t in November and expect the same volume in December, holding 20t of stocks now.
Another producer in South China claimed their bottom price for vanadium nitride at RMB145,000/t (USD26.9/kg V) EXW D/P, down by RMB1,000/t (USD0.2/kg V) from last week. “We buy raw material vanadium pentoxide flake 98%min at RMB93,000/t (USD6.15/lb V2O5) EXW D/P and the current quotation for vanadium nitride almost equals to our cost line,” said the source. Their last deal was made late last week, when they sold 20t at RMB146,000/t (USD27.1/kg V) EXW. According to prices of raw material they bought, he believes that prices of vanadium nitride would keep firm in the coming week.
With an annual production capacity of 2,000t, they produced 120t in November and expect the same volume in December, holding 40t of stocks now.
www.asianmetal.com
