Chinese vanadium nitride prices to touch the bottom
Date: Jan 3, 2019
BEIJING (Asian Metal) 3 Jan 19 – Currently, mainstream prices of Chinese vanadium nitride drop to RMB342,000-345,000/t (USD64.83-65.39/kg V) Inc-VAT EXW D/A 180 days, down by RMB20,000/t (USD3.79/kg V) from last week. Considering most steel mills will build inventory in January, insiders believe prices would touch the bottom in the coming week.
A producer in South China quotes vanadium nitride at RMB342,000/t (USD64.83/kg V) at present, down by RMB18,000/t (USD3.41/kg V) from early last week. “Most steel mills will start to build stock in the coming week, which will support the vanadium market. I believe prices of vanadium nitride would touch the bottom soon as demand increases,” said the source. He added, their last deal was made late last week, when they sold 10t at RMB342,000/t (USD64.83/kg V). He believes prices would touch the bottom at RMB330,000/t (USD62.55/kg V) in the coming week.
