Chinese Vanadium Nitride Prices Edge Down
BEIJING (Asian Metal) 22 Nov 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB152,000-155,000/t (USD28.2-28.7/kg V) EXW D/A 180 days, down by RMB3,000/t (USD0.6/kg V) from this Wednesday. As few end consumers would like to accept the increasing trend, suppliers have to drop their quotation to promote sales. However, as the cost keeps high, insiders believe prices of vanadium nitride would keep steady in the coming week.
A trader in South China claimed the current quotation for vanadium nitride stands at RMB155,000/t (USD28.7/kg V) EXW D/A 180 days and can buy at RMB152,000/t (USD28.2/kg V) for firm bids, down by RMB3,000/t (USD0.6/kg V) from early this week. “Producers increased their quotation a lot during the past week and some one even increased to about RMB160,000/t (USD29.7/kg V). However, our steel mill clients refuse to buy at high price level, which would bring drop pressure to the market trend,” said the source. Their last deal was made this Wednesday, when they bought 20t at RMB152,000/t (USD28.2/kg V). He added, “The current price for vanadium pentoxide flake 98%min keep firm at RMB100,000/t (USD6.6/lb V2O5) EXW D/A 180 days, unchanged from last week.” Considering the cost keeps high, he believes prices of vanadium nitride would stay steady in the coming week.
With a regular trading volume of 80tpm, they sold 900t in 2018 and have sold 700t so far this year. They expect to sell 50t in November, down by 30t from October, holding 40t of stocks now, up by 20t from late last month.
Another trader in South China noted the lowest price for vanadium nitride he received stands at RMB150,000/t (USD27.8/kg V) EXW D/P, down by RMB2,000/t (USD0.4/kg V) from early this week. “Our regular supplier bought vanadium pentoxide flake 98%min at RMB95,000/t (USD6.3/lb V2O5) EXW D/P and the current quotation for vanadium nitride almost equals to the cost,” said the source. He added, “There is little profit margin for vanadium nitride now, so we won’t ask our producer to drop their price again.” Their last deal was made two weeks ago, when they bought 20t at RMB145,000/t (USD26.9/kg V) EXW D/P. Considering the cost keeps at high level, he believes prices of vanadium nitride would keep steady in the coming week.
With a regular trading volume of 60tpm, they sold 600t in 2018 and have sold 500t so far this year. They expect to sell 60t in November, unchanged from October, holding 30t of stocks now, the same with late last month.
www.asianmetal.com
