BEIJING (Asian Metal) 10 Oct 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, unchanged from two weeks ago. Major steel mills refuse to buy at high price level and most producers are on the edge. Insiders believe vanadium nitride market would keep in a stalemate in the coming week.

A producer in Fujian quoted their vanadium nitride at RMB200,000/t (USD36.4/kg V) EXW D/A 180 days and can accept RMB198,000/t (USD36.1/kg V) for firm bids, unchanged from two weeks ago. “We are producing for our long-term cooperation steel mill clients. For the current market situation, we can’t accept new orders. We will loss about RMB3,000/t (USD0.5/kg V) just to maintain the client relationship at the moment,” said the source. Their last deal was made this Tuesday, when they sold 20t at RMB198,000/t (USD36.1/kg V). He believes prices of vanadium nitride would stay firm in the coming week.

With an annual production capacity of 1,200t, they produced 70t in September and expect the same volume in October, holding no stock now.

A producer in Shaanxi claimed their lowest quotation for vanadium nitride at RMB199,000/t (USD36.3/kg V) EXW D/A 180 days now, unchanged from two weeks ago. “We just bought 30t of raw material vanadium pentoxide flake 98%min at RMB130,000/t (USD8.4/lb V2O5) EXW D/P at the end of September. According to the cost, we have to insist on this price level for vanadium nitride,” said the source. Their last deal was made two weeks ago, when they sold 20t at RMB199,000/t (USD36.3/kg V). They are building stock and in no hurry to drop price to accept new orders now. He believes prices of vanadium nitride would keep firm in the coming week.

With an annual production capacity of 1,200t for vanadium nitride, they expect to produce 60t in October, down by 20t from September, holding 40t of stocks now.

www.asianmetal.com