Chinese vanadium nitride prices keep dropping
Date: Dec 5, 2018
BEIJING (Asian Metal) 5 Dec 18 – Currently, mainstream prices of Chinese vanadium nitride drop to RMB600,000-603,000/t (USD113.92-114.49/kg V) Inc-VAT EXW D/A 180 days, down by RMB70,000/t (USD13.29/kg V) from late last week. As prices keep dropping, few buyers purchase and consumers just buy based on urgent need. Insiders believe prices would keep dropping in the coming week.
A producer in Northwest China quotes vanadium nitride at RMB600,000/t (USD113.92/kg V) at present, down by RMB60,000/t (USD11.39/kg V) from last week. “We participated in bidding of a steel mill last week and we quoted RMB660,000/t (USD125.31/kg V). However, they didn’t make deal with us and I learned they only want to buy at no more than RMB600,000/t (USD113.92/kg V),” said the source. Their last deal was made two weeks ago, when they sold 20t at RMB740,000/t (USD140.50/kg V). He added, he received a quote for raw material vanadium pentoxide flake 98%min at RMB380,000/t (USD25.72/lb V) this Tuesday, down by RMB70,000/t (USD4.74/lb V) from last week. He believes mainstream prices of Chinese vanadium nitride would drop by RMB50,000/t (USD9.49/kg V) in the coming week.
