Chinese Vanadium Nitride Prices Drop
Date: Apr 03, 2019
BEIJING (Asian Metal) 3 Apr 19 – Currently, mainstream prices of Chinese vanadium nitride are RMB285,000-288,000/t (USD55.1-55.7/kg V) EXW D/A 180 days, down by RMB25,000/t (USD4.8/kg V) from last week. In order to promote sales, suppliers are actively to drop their quotation. Considering the demand keeps weak, insiders believe prices of this material would keep dropping in the coming week.
A producer in Northwest China quotes vanadium nitride at RMB285,000/t (USD55.1/kg V) EXW D/A 180 days and won’t accept any discount at the moment, down by RMB25,000/t (USD4.8/kg V) from last week. “I heard Kungang’s latest bidding price for vanadium nitride has dropped to RMB264,500/t (USD51.1/kg V) delivered D/P, which equals to about RMB271,000/t (USD52.4/kg V) D/A 180 days. That’s the main reason why we drop our quotation,” said the source. Their last deal was made two weeks ago, when they sold 20t at RMB325,000/t (USD62.8/kg V). He added, prices of raw material vanadium pentoxide flake 98%min from big producers are still RMB220,000/t (USD15.16/lb V) D/A 180 days. Considering the cost keeps high, he believes prices of vanadium nitride won’t drop too much and may touch the bottom at RMB270,000/t (USD52.2/kg V) in the coming week.
