Chinese Vanadium Nitride Prices Increase
BEIJING (Asian Metal) 5 Feb 20 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB151,000-154,000/t (USD28.0-28.6/kg V) EXW D/A 180 days, p by RMB6,000/t (USD1.1/kg V) from last week. Affected by the plague in China, most producers can’t produce in normal and at the same time, the physical distribution can’t operate well. Considering the supply situation keeps tight, insiders believe that prices of Chinese vanadium nitride would increase furthur in the coming week.
A producer in North China quotes their vanadium nitride at RMB157,000/t (USD29.1/kg V) EXW D/A 180 days and they can accept RMB154,000/t (USD28.6/kg V) for firm bids, up by RMB7,000/t (USD1.3/kg V) from last week. “We are out of production and we are selling the inventory now. Our last deal was signed this Monday, when we sold 30t at RMB154,000/t (USD28.6/kg V) Delivered D/A 180 days,” said the source. He added, “As the plague in China, we are forbidden to produce and we are not sure when can we reproduce in normal.” Considering the supply situation trends tight, he believes that prices of vanadium nitride may touch RMB160,000/t (USD29.7/kg V) in the coming week.
With an annual production capacity of 2,400t, they produced 160t in January and expect 80t in February, holding 60t of stocks now.
A producer in Northwest China claimes their quotation for vanadium nitride at RMB155,000/t (USD28.8/kg V) EXW D/A 180 days and they can accept RMB153,000/t (USD28.4/kg V) for firm bids, up by RMB6,000/t (USD1.1/kg V) from last week. “Our last deal was made this Tuesday, when we sold 20t at RMB153,000/t (USD28.4/kg V) Delivered D/A 180 days. We are not in hurry to accept new orders now as the physical distribution can’t operate in normal for the plague,” said the source. He added, “We will transport and deliver to our client by our own physical distribution.” As the policy forbids production in this special period, he believes that prices of vanadium nitride would increase to RMB157,000/t (USD29.1/kg V) in the coming week.
With an annual production capacity of 2,000t, they produced 150t in January and expect to produce 75t in February, holding 40t of stocks now.
www.asianmetal.com
