BEIJING (Asian Metal) 23 Oct 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB181,000-184,000/t (USD33.2-33.8/kg V) EXW D/A 180 days, unchanged from last week. Major steel mills plan to make purchase at the end of this month and the current demand keeps soft. Considering the inventory level keeps high, insiders believe prices would drop slightly in the coming week.

A consumer in South China claimed the current quotation he received stands at RMB178,000/t (USD32.7/kg V) EXW D/P, unchanged from last week. “Our last deal was made late September, when we bought 30t at RMB200,000/t (USD36.7/kg V) Delivered D/A 180 days and we plan to buy another 30t at the end of this month,” said the source. He added, “According to the feedback of our major supplier, I believe we can buy at no more than RMB181,000/t (USD33.2/kg V) Delivered D/A 180 days.” He believes prices of vanadium nitride would drop to RMB180,000/t (USD33.0/kg V) EXW D/A 180 days in the coming week.

With an annual consumption capacity of 600t, they consumed 550t in 2018 and have consumed 300t this year. They expect to consume 30t in October, unchanged from September. They have 15t of stocks now, the same with last month.

A consumer in Northwest China noted the lowest price he received stands at RMB184,000/t (USD33.8/kg V) EXW D/A 180 days, unchanged from last week. “Our last deal was made at the end of September, when we bought 20t at RMB199,700/t (USD36.6/kg V). We have no plan to make purchase this week. According to our inventory, we will buy another 20t late October,” said the source. Considering the stock of vanadium nitride producers keep high, he believes prices of vanadium nitride would drop by RMB3,000/t (USD0.6/kg V) in the coming week.

With an annual consumption capacity of 720t, they consumed 600t in 2018 and have consumed 350t this year. They consumed 30t in September and expect the same volume in October, holding 30t of stocks, the same with last month.

www.asianmetal.com