Chinese vanadium nitride prices slump
Date: Nov 29, 2018
BEIJING (Asian Metal) 29 Nov 18 – Currently, mainstream prices of Chinese vanadium nitride slump to RMB670,000-673000/t (USD125.10-125.66/kg V) Inc-VAT EXW D/A 180 days, down by RMB80,000/t (USD14.94/kg V) from early last week, as Few steel mills are bidding at the moment. Many small traders are underselling their materials, while Major producers hardly quote as the prices of raw material they bought earlier are high. Considering the demand keeps weak, insiders believe prices of Chinese vanadium nitride would keep dropping in the coming week.
A producer in South China quotes vanadium nitride at RMB680,000/t (USD126.97/kg V) at present, down by RMB70,000/t (USD13.07/kg V) from last week. “I received an inquiry last Monday from one of our regular clients who wanted to buy 30t. We quoted RMB750,000/t (USD140.04/kg V), but they didn’t decide until this Tuesday, when they only bought 10t at RMB670,000/t (USD125.10/kg V),” said the source. He added, it’s hard for them to quote as the prices of raw material dropped. They received a quote for raw material vanadium pentoxide flake 98%min at RMB420,000 (USD27.96/lb V) Inc-VAT EXW D/P this Wednesday, down by RMB70,000/t (USD4.66/lb V) from last week. He believes prices of Chinese vanadium nitride would keep decreasing in the coming week.
