BEIJING (Asian Metal) 13 Nov 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB145,000-148,000/t (USD26.9-27.4/kg V) EXW D/A 180 days, up by RMB3,000/t (USD0.6/kg V) from this Monday. As most producers of vanadium pentoxide flake refuse to drop their quotation any more, the cost of vanadium nitride can hardly reduce. Insiders turn to be optimistic for the market trend and expect prices of vanadium nitride would increase slightly.

A producer in South China quotes their bottom price for vanadium nitride at RMB148,000/t (USD27.4/kg V) EXW D/A 180 days, up by RMB2,000/t (USD0.4/kg V) from this Monday. “Prices for vanadium pentoxide flake 98%min of major producers keep firm at RMB100,000/t (USD6.6/lb V2O5) EXW D/A 180 days. If we buy raw material at this price level, our cost would be RMB157,000/t (USD29.1/kg V),” said the source. He added, “We are in no hurry to sell at low price level at the moment and I believe prices of vanadium nitride would increase to RMB157,000/t (USD29.1/kg V) in the coming week.” Their last deal was made this Monday, when they sold 20t to one of their regular clients at RMB146,000/t (USD27.1/kg V).

With an annual production capacity of 1,400t, they produced 90t in October and expect the same volume in November, holding about 100t of stocks now.

Another producer in South China noted their quotation for vanadium nitride at RMB150,000/t (USD27.8/kg V) EXW D/A 180 days and can accept RMB148,000/t (USD27.4/kg V) for firm bids, up by RMB3,000/t (USD0.6/kg V) from this Monday. “We are producing for our steel mill clients now and we are in no hurry to accept new orders in spot market as there is nearly no profit margin,” said the source. He added, “We bought 60t of vanadium pentoxide flake 98%min last week and 30t for RMB94,000/t (USD6.2/lb V2O5), another 30t for 95,000/t (USD6.3/lb V2O5).” said the source. Their last deal was made two weeks ago, when they sold 30t of vanadium nitride at RMB170,000/t (USD31.5/kg V). He believes prices of vanadium nitride would increase by RMB4,000/t (USD0.7/kg V) in the coming week.

With an annual production capacity of 1,000t, they produced 70t in October and expect the same volume in November. They only produce according to orders, no stocks now.

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