BEIJING (Asian Metal) 5 Mar 20 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB147,000-150,000/t (USD27.6-28.1/kg V) EXW D/A 180 days, down by RMB3,000/t (USD0.6/kg V) from last week. As few steel mills are making purchase at the moment, most suppliers face high inventory pressure. Insiders believe that prices of vanadium nitride would edge down in the coming week.

A producer in South China quotes their vanadium nitride at RMB147,000/t (USD27.6/kg V) EXW D/P and they can accept RMB146,000/t (USD27.4/kg V) for firm bids, down by RMB3,000/t (USD0.6/kg V) from last week. “Few steel mills would like to make purchase at the moment expect Zhongtian Steel and Shanguan Steel. I heard they closed deal at RMB147,000/t (USD27.6/kg V) Delivered D/A 180 days,” said the source. Their last deal was made early last week, when they sold 20t at RMB149,000/t (USD27.9/kg V) Delivered D/P. Considering inquiries were rare to see, he believes that prices of vanadium nitride would edge down by RMB1,000/t (USD0.2/kg V) in the coming week.

With an annual production capacity of 2,400t, they produced 1,440t in 2019 and have produced 240t so far this year. They produced 120t in February, the same as January, holding 100t of stocks, up by 40t from last month.

Another producer in South China noted the current price for vanadium nitride they can accept stands at RMB146,000/t (USD27.4/kg V) EXW D/P and they won’t accept any discount for firm bids, down by RMB3,000/t (USD0.6/kg V) from last week. “We are facing high pressure to sell now as few steel mills would like to make purchase. Most of them are consuming the history stocks at the moment. According to what I know, our steel mill clients could consume their history inventory for at least one month,” said the source. Their last deal was made two weeks ago, when they sold 30t at RMB155,000/t (USD29.1/kg V) Delivered D/A 180 days. He believes that prices of vanadium nitride would drop by RMB2,000/t (USD0.4/kg V) in the coming week.

With an annual production capacity of 2,000t, they produced 90t in February, down by 30t from January, holding 80t of stocks now, up by 20t from last month.

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