BEIJING (Asian Metal) 18 Sep 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB195,000-198,000/t (USD35.7-36.2/kg V) EXW D/A 180 days, unchanged from last week. Major steel mills refuse to buy at high price level. However, as prices of raw material keep high, few producers of vanadium nitride can drop their quotation any more to accept orders. Insiders believe prices of vanadium nitride would stay firm in the coming week.

A producer in South China quotes their vanadium nitride at RMB200,000/t (USD36.6/kg V) EXW D/A 180 days and can accept RMB198,000/t (USD36.2/kg V) for firm bids now, unchanged from last week. “Our last deal was made early last week, when we sold 30t at RMB198,000/t (USD36.2/kg V). We received the current quotaion for raw material vanadium pentoxide flake 98%min at RMB130,000/t (USD8.5/lb V2O5) and suppliers refuse to drop their quotaiton,” said the source. Considering the cost keeps high, he believes prices of vanadium nitride would stay firm in the coming week.

With an annual production capacity of 2,000t for vanadium nitride, they expect to produce 150t in August, unchanged from August, holding 70t as regular stocks.

Another producer in South China claimed the lowest quotation for their vanadium nitride stands at RMB195,000/t (USD35.7/kg V) EXW D/P at the moment, unchanged from last week. “We are producing for the signed orders now and we are in no hurry to accept new orders as no profit at the moment,” said the source. He added, “If prices drop again, we have to stop production.” Their last deal was made two weeks ago, when they sold 20t at RMB195,000/t (USD35.7/kg V). Considering the cost stay firm, he believes prices of vanadium nitride would be firm in the coming week.

With an annual production capacity of 1,400t for vanadium nitride, they produced 110t in August and expect the same volume in September according to their signed contracts, holding no stock at the moment.

www.asianmetal.com