Chinese vanadium nitride prices firm
Date: Nov 7, 2018
BEIJING (Asian Metal) 7 Nov 18 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB817,000-820,000/t (USD153.46-154.02/kg V) Inc-VAT EXW D/A six months, in line with last week. Although downstream demand was strong, suppliers were very cautious about accepting orders and started to ask customers to pay in advance as prices had hit the record high, so transactions concluded at low prices were limited. Market participants predicted Chinese vanadium nitride prices would be stable in the coming week.
A producer in South China said they mainly deal with the concluded orders from steel mills now, and the lowest price for new orders is RMB800,000/t (USD150.27/kg V) Inc-VAT EXW D/P, unchanged from last week. He noted, “The vanadium market is now under adjustment, we will keep firm the lowest price and will arranged production unless customers pay 90% of the full amount in advance. We cannot accept orders for this month any more, but can accept those for December.” He last sold 20t of vanadium nitride at RMB780,000/t (USD146.57/kg V) Inc-VAT EXW D/P in late October.
