Chinese Vanadium Nitride Prices Drop
BEIJING (Asian Metal) 17 Jun 20 – Currently, mainstream prices of Chinese vanadium nitride stand at RMB164,000-167,000/t (USD30.1-30.6/kg V) EXW D/A 180 days, down by RMB8,000/t (USD1.5/kg V) from early last week. As prices of raw material edge down in the past week, traders are in hurry to reduce their vanadium nitride inventory. Insiders believe that mainstream prices of vanadium nitride would keep quiet in the coming week.
“I receive the current price of vanadium pentoxide flake 98%min at RMB107,000/t (USD7/lb V2O5) EXW D/A 180 days, down by RMB2,000/t (USD0.1/lb V2O5) from late last week,” a trader in South China said. Their last deal was made early last week, when they sold 20t at RMB170,000/t (USD31.2/kg V) EXW D/P. They insist on RMB165,000/t (USD30.3/kg V) EXW D/P at the moment or would not accept any orders now. As their regular steel mills would purchase at the end of this month, they prefer to watch the market at the moment. Though inquiries stay rare, considering the cost keeps at a high price level, he believes that mainstream prices of vanadium nitride would stay firm in the coming week.
With a regular back to back trading volume of 50tpm, they sold about 500t in total in 2019 and about 210t so far this year. They expect to sell 40t in June, unchanged from May.
“Traders are in hurry to reduce their stocks, that’s why prices drop so much during the past week. Actually, prices have touched the bottom according to the current prices of raw materials,” another trader in South China noted. He heard Chengde Jianlong just signed about 240t of vanadium pentoxide flake 98%min at RMB107,000/t (USD7/lb V2O5) EXW D/A 180 days to their long-term agreement clients this week. According to the cost, he believes that the bottom prices of vanadium nitride would stay firm at RMB165,000/t (USD30.3/kg V) EXW D/A 180 days. Their last deal was made early last week, when they sold 20t at RMB172,000/t (USD31.6/kg V) EXW D/P and they insist on RMB165,000/t (USD30.3/kg V) or would not accept any orders now.
With a regular trading volume of 30tpm, they sold about 300t in 2019 and about 150t in the first five months this year. They expect to sell 30t in June, unchanged from May, holding 30t of regular clients now, the same as last month.
www.asianmetal.com
