Chinese Vanadium Nitride Prices Move Down
BEIJING (Asian Metal) 8 Apr 20 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB141,000-144,000/t (USD26.0-26.5/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from last week. As market inventory stays at a high level, prices could hardly rebound. Considering prices of raw material keeps firm, insiders believe that mainstream prices of vanadium nitride would stay in a stalemate in the coming week.
A producer in Northwest China quotes their vanadium nitride at RMB144,000/t (USD26.5/kg V) EXW D/P and they could accept RMB143,500 (USD26.4/kg V) for orders more than 30t, down by RMB1,000/t (USD0.2/kg V) from one weeks ago. “Our last deal was made late last week, when we sold 20t at RMB144,000/t (USD26.5/kg V) and 30t at RMB143,500/t (USD26.4/kg V),” said the source. He received the current price of raw materials vanadium pentoxide flake 98%min stand at around RMB94,000/t (USD6.2/lb V2O5) EXW D/P, unchanged from last week. Considering the cost keeps firm, he believes that prices of vanadium nitride would stay in a stalemate in the coming week.
With an annual production capacity of 2,000t, they produced 150t in March and expect 180t in April, holding 120t of stocks now.
A producer in Northeast China quotes their vanadium nitride at RMB142,000/t (USD26.2/kg V) delivered D/A 180 days and they could accept RMB141,000/t (USD26.0/kg V) to their inner buyers, down by RMB1,000/t (USD0.2/kg V) from last week. “We mainly produce for our inner four companies. Our last deal was made late last week, when we sold 32t at RMB141,000/t (USD26.0/kg V),” said the source. For general orders in spot market, they would insist on RMB142,000/t (USD26.2/kg V). He added, “Laigang Group finished the deal at RMB142,000/t (USD26.2/kg V) in early April and few buyers would like to buy at above this price level.” Considering prices of vanadium pentoxide flake 98%min keep firm at RMB96,000/t (USD6.3/lb V2O5) EXW D/A 180 days, he believes that mainstream prices for vanadium nitride would keep steady in the coming week.
With an annual production capacity of 1,200t, they produced about 90t in March and expect the same volume in April, holding about 30t of stocks now.
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