BEIJING (Asian Metal) 3 Jun 20 – Currently, mainstream prices of Chinese vanadium nitride stand at RMB163,000-166,000/t (USD29.8-30.4/kg V) EXW D/A 180 days, up by RMB10,000/t (USD1.8/kg V) from last week. Most producers signed enough orders during the past two weeks and they are in no hurry to accept new orders for immediate shipment now. Insiders believe that mainstream prices of vanadium nitride would keep increasing in the coming week.

A producer in Northwest China quotes their vanadium nitride at RMB165,000/t (USD30.2/kg V) EXW D/P and could accept RMB163,000/t (USD29.8/kg V) for firm bids, up by RMB8,000/t (USD1.5/kg V) from last week. “We arrange orders to early July now and we are in no hurry to accept new orders due to lack of raw materials,” said the source. They sold 30t at RMB163,000/t (USD29.8/kg V) this Monday. Considering the demand from end steel mills stays active, he believes that mainstream prices of vanadium nitride would increase to RMB170,000/t (USD31.1/kg V) EXW D/A 180 days in the coming week.

With a production capacity of 2,000tpy, they produced about 540t in 2019 and about 260t so far this year. They produced about 60t in May and expect 120t in June, holding about 50t of regular stocks, unchanged from last month.

A trader in North China notes the current price for vanadium nitride he received from their regular supplier increases to RMB163,000/t (USD29.8/kg V) EXW D/A 180 days now, up by RMB6,000/t (USD1.1/kg V) from late last week. “We bought 20t at RMB158,000/t (USD28.9/kg V) late last week. However, it’s not possible to find any goods in spot market below RMB163,000/t (USD29.8/kg V) this week,” said the source. Considering major producers of vanadium pentoxide flake 98%min refuse to supply at the moment, he believes that mainstream prices of vanadium nitride would increase to RMB165,000/t (USD30.2/kg V) in the coming week.

With a regular trading volume of 90tpm, they would produce about 45tpm by OEM and purchase about 45tpm from spot market. They sold about 1,000t in 2019 and about 400t so far this year. They expect to sell 90t in June, unchanged from May, holding about 20t of stocks now, the same as last month.

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