BEIJING (Asian Metal) 9 Jun 20 – At present, mainstream prices of Chinese vanadium nitride stand at RMB172,000-175,000/t (USD31.6-32.1/kg V) EXW D/A 180 days, up by RMB5,000/t (USD0.9/kg V) from early last week. As bidding prices of major steel mills followed up the current increasing tendency, most suppliers’ mentality remains stable. Considering prices of raw material vanadium pentoxide flake stays at a high price level, insiders believe that mainstream prices of vanadium nitride would stay firm in the coming week.

A producer in Northwest quotes their vanadium nitride at RMB170,000/t (USD31.2/kg V) EXW D/P and would not accept any discount for firm bids, up by RMB5,000/t (USD0.9/kg V) from early last week. “I heard Kunming Steel finished their bidding for 40t of vanadium nitride at RMB170,000/t (USD31.2/kg V) delivered D/P last Friday, so we would insist on our current quotation or would not accept any orders,” said the source. He received the current price for vanadium pentoxide flake 98%min at RMB110,000/t (USD7.2/lb V2O5) EXW D/P. Supported by the high cost of raw material, he believes that mainstream prices of vanadium nitride would keep firm in the coming week.

With an annual production capacity of 1,200t, they produced about 300t in 2019 and about 390t in the first five months this year. They expect to produce about 100t in June, up by 20t from May. They only produce according to orders this year, holding no stocks.

A produce in South China quotes their vanadium nitride at RMB175,000/t (USD32.1/kg V) EXW D/A 180 days and could accept RMB173,000/t (USD31.8/kg V) for firm bids, up by RMB5,000/t (USD0.9/kg V) from last week. “I heard Xinxing Ductile Iron Pipes finished their bidding for 20t of vanadium nitride at RMB172,000/t (USD31.6/kg V) delivered D/A 180 days last Thursday,” said the source. They are producing for the signed orders now and are in no hurry to accept new orders for immediate shipment. He received the current market prices of vanadium pentoxide flake 98%min in spot market stay at RMB112,000/t (USD7.35/lb V2O5) EXW D/P. Considering the cost keeps high, he believes that mainstream prices of vanadium nitride would keep firm in the coming week.

With a production capacity of 1,200tpy, they produced about 1,000t in 2019 and about 350t so far this year. They produced about 40t in May and expect 60t in June, holding about 20t of regular stocks now, unchanged from last month.

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