Chinese Vanadium Nitride Prices Keep Firm
BEIJING (Asian Metal) 6 Sep 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB197,000-200,000/t (USD35.8-36.3/kg V) EXW D/A 180 days, unchanged from early this week. As prices of raw material keep high and steel mills refuse to buy at high price level, most vanadium nitride producers can only maintain thin profit. Insiders believe prices of vanadium nitride would keep firm in the coming week.
A producer in Henan quotes their vanadium nitride at RMB200,000/t (USD36.3/kg V) EXW D/A 180 days and won’t accept any discount for firm bids at the moment, unchanged from early this week. “Our last deal was made this Monday, when we sold 20t at RMB198,000/t (USD36.0/kg V). Actually, we lost RMB2,000/t (USD0.4/kg V) and just want to maintain regular client relationship. For new orders, we insist on the current quotation,” said the source. He added, “We buy raw material vanadium pentoxide flake 98%min at RMB130,000/t (USD8.4/lb V) and the cost of vanadium nitride has reached to RMB200,000/t (USD36.3/kg V). We can’t drop anymore or we will have to stop production.” 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 produced 160t in August and expect the same volume in September. They produce according to orders, holding no stock.
A producer in Northwest China noted their quotation for vanadium nitride keeps at RMB200,000/t (USD36.3/kg V) EXW D/P and can accept RMB200,000/t (USD36.3/kg V) EXW D/A 180 days for firm bids, unchanged from early this week. “We are producing for the signed orders now and we can’t accept orders for immediate shipment in September. According to the cost, we won’t accept any discount,” said the source. Their last deal was made early last week, when they sold 30t at RMB197,000/t (USD35.8/kg V). He believes prices of vanadium nitride would keep firm in the coming week.
With an annual production capacity of 1,800t for vanadium nitride, they expect to produce 140t in September, unchanged from August, holding no stocks now.
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