Chinese Vanadium Nitride Market Stays In A Stalemate
BEIJING (Asian Metal) 5 Dec 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB145,000-148,000/t (USD26.7-27.3/kg V) EXW D/A 180 days, down by RMB4,000/t (USD0.7/kg V) from last week but rebound by RMB2,000/t (USD0.4/kg V) from the bottom in the past week. Most producers refuse to accept orders at low price level as their cost keeps high. Insiders believe prices of vanadium nitride would edge up in the coming week.
A producer in South China quotes their bottom price for vanadium nitride at RMB148,000/t (USD27.3/kg V) EXW D/A 180 days, down by RMB3,000/t (USD0.6/kg V) from early last week. “I received some inquiries from traders this week but they only wanted to buy at no more than RMB146,000/t (USD26.9/kg V). As prices of raw material vanadium pentoxide flake keep at high level, we won’t drop our quotation any more,” said the source. He added, “The current price of vanadium pentoxide flake 98%min I received stands at RMB96,000/t (USD6.3/lb V2O5) D/P, up by RMB1,000/t (USD0.1/lb V2O5) from last week.” Their last deal was made late last week, when they sold 30t at RMB146,000/t (USD26.9/kg V). He believes prices of vanadium nitride would edge up to RMB150,000/t (USD27.6/kg V) in the coming week.
With an annual production capacity of 2,000t, they produced 150t in November and expect the 120t in December, holding 40t of stocks now.
A producer in North China claimed their quotation for vanadium nitride at RMB150,000/t (USD27.6/kg V) EXW D/A 180 days and can accept RMB148,000/t (USD27.3/kg V) for firm bids, down by RMB4,000/t (USD0.7/kg V) from early last week. “We bought vanadium pentoxide flake 98%min at RMB100,000/t (USD6.6/lb V2O5) EXW D/A 180 days and the cost of vanadium nitride keeps at RMB155,000/t (USD28.5/kg V),” said the source. He added, “We are in no hurry to sell at the moment and only supply our regular clients.” Their last deal was made this Tuesday, when they sold 20t at RMB148,000/t (USD27.3/kg V) to one of their regular clients. He believes prices of vanadium nitride would move up to RMB152,000/t (USD28.0/kg V) in the coming week as the cost stays firm.
With an annual production capacity of 3,000t, they produced 220t in November and expect 200t in December, holding 60t of stocks now.
www.asianmetal.com
