Chinese Vanadium Nitride Prices Rebound
BEIJING (Asian Metal) 10 Dec 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB147,000-150,000/t (USD27.1-27.7/kg V) EXW D/A 180 days, up by RMB2,000/t (USD0.4/kg V) from late last week. As the cost keeps high, few producers would accept orders at low price level. Insiders believe that prices of vanadium nitride would continue rebounding in the coming week.
A producer in Northwest China quotes their price for vanadium nitride at RMB150,000/t (USD27.7/kg V) EXW D/A 180 days and can accept RMB149,000/t (USD27.5/kg V) for firm bids, up by RMB2,000/t (USD0.4/kg V) from last week. “The current price for vanadium pentoxide flake 98%min stands at RMB95,500/t (USD6.3/lb V2O5) EXW D/A 180 days and major producers still insist on RMB100,000/t (USD6.6/lb V2O5). The bottom price of our vanadium nitride almost equals to our cost line,” said the source. Their last deal was made at the end of November, when they sold 40t at RMB146,000/t (USD26.9/kg V). Considering the bidding of major steel mills before the Spring Festival is expective, he believes that prices of vanadium nitride would increase to RMB155,000/t (USD28.6/kg V) in the coming week.
With an annual production capacity of 2,400t, they produced 180t in November and expect the same volume in December, holding 60t of stocks now.
A producer in North China noted their bottom price for vanadium nitride at RMB150,000/t (USD27.7/kg V) EXW D/A 180 days, up by RMB2,000/t (USD0.4/kg V) from last week. “Bidding prices of major steel mills kept around at RMB148,000/t (USD27.3/kg V) Delivered D/A 180 days during the past week. However, the cost needs at least RMB150,000/t (USD27.7/kg V). So for orders from new clients, we won’t accept bidding prices and we would rather hold the inventory,” said the source. Their last deal was made last Friday, when they sold 60t at RMB148,000/t (USD27.3/kg V) Delivered D/A 180 days to one of their regular steel mill clients. He added, “Major producers insisted on their quotation for vanadium pentoxide flake 98%min at RMB100,000/t (USD27.7/lb V2O5) EXW D/A 180 days, unchanged from last week.” Considering the cost keeps high, he believes prices of vanadium nitride would increase by RMB3,000/t in the coming week.
With an annual production capacity of 2,000t, they produced 150t in November and expect the same volume in December, holding 40t of stocks now.
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