BEIJING (Asian Metal) 2 Jan 20 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB145,000-148,000/t (USD27.1-27.6/kg V) EXW D/A 180 days, the same as this Monday. Though major steel mills are making purchasing for the coming year, dealing prices didn’t go up because of high inventory level. Insiders believe that prices of vanadium nitride would keep steady in the coming week.

A producer in China quotes their vanadium nitride at RMB148,000/t (USD27.6/kg V) EXW D/A 180 days and can accept RMB146,000/t (USD27.2/kg V) EXW D/P for firm bids, unchanged from this Monday. “We didn’t change our quotation during the past two weeks. It’s no meaning to quote high price level now as few steel mills would like to buy at more than RMB148,000/t (USD27.6/kg V) EXW D/A 180 days,” said the source. Their last deal was made late last week, when they sold 30t at RMB148,000/t (USD27.6/kg V) Delivered D/A 180 days. Considering the fierce supply competition in the current market, he believes that prices of vanadium nitride would stay steady in the coming week.

With an annual production capacity of 1,200t, they produced 90t in December, the same as November, holding 50t of stocks now.

A trader in China noted the current price for vanadium nitride he received stands at RMB146,000/t (USD27.2/kg V) EXW D/P, unchanged from this Monday. “We just sold 10t to our regular steel mill client at RMB146,500/t (USD27.3/kg V) Delivered D/P. We have 300t of orders in total now and we need to find more goods in spot market in the coming month,” said the source. He added, “We are sending inquiries now and our target prices stay at no more than RMB145,000/t (USD27.1/kg V) EXW D/P.” Considering the supply situation keeps loose, he believes that prices of vanadium nitride would keep steady in the coming week.

With a regular trading volume of 90tpm, they sold 1,000t in 2018 and 1,200t in 2019. They sold 120t in December, up by 30t from November, holding no stocks now, down by 40t from one month ago.

www.asianmetal.com