Chinese Vanadium Nitride Prices Edge Down
BEIJING (Asian Metal) 31 Dec 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB145,000-148,000/t (USD27.0-27.5/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from last week. Though suppliers tried to insist on their quotation, steel mills refuse to accept at high price level as the supply situation keeps loose. Insiders believe that prices of vanadium nitride would keep weak in the coming week.
A trader in South China claimed the current price for vanadium nitride he received stands at RMB148,000/t EXW D/A 180 days and can buy at RMB147,000/t (USD27.3/kg V) for firm bids, down by RMB1,000/t (USD0.2/kg V) from last week. “We just sold 30t to one of our regular steel mill clients at RMB147,000/t (USD27.3/kg V) Delivered D/A 180 days. If we buy from spot market, we can hardly guarantee our prifit,” said the source. He added, “We have long-term cooperation with our regular supplier, who can offer us RMB145,000/t (USD27.0/kg V) now.” As bidding prices of major steel mills keep weak, he believes that prices of vanadium nitride would stay steady in the coming week.
With a regular trading volume of 60tpm, they sold 700t in 2018 and have sold 600t so far this year. They expect to sell 40t in December, down by 20t from November, holding 20t of stocks now, the same as last month.
A trader in North China quotes their vanadium nitride at RMB148,000/t (USD27.5/kg V) EXW D/A 180 days and can accept RMB147,500/t (USD27.4/kg V) for firm bids, down by RMB500/t (USD0.1/kg V) from one week ago. “To be frank, we can hardly guarantee our basic profit margin at the current price level now. We buy raw material vanadium pentoxide flake 98%min at RMB95,000/t (USD6.3/lb V2O5) EXW D/A 180 days for OEM and the current quotation for vanadium nitride almost equals to our cost,” said the source. He added, “Our last deal was made last Friday, when we sold 20t at RMB148,000/t (USD27.5/kg V).” Though steel mills refuse to buy at high price level, considering the cost keeps high, he believes that prices of vanadium nitride would keep steady in the coming week.
With a regular trading volume of 50tpm, they sold 600t in 2018 and have sold 500t so far this year. They expect to sell 50t in December, unchanged from November, holding 50t of stocks now, up by 25t from last month.
www.asianmetal.com
