Chongyang Xinrui Vanadium to Produce First Batch of Vanadium Nitride

BEIJING (Asian Metal) 18 Apr 19 – According to a source, two new vanadium nitride production lines at Chongyang Xinrui Vanadium Co., Ltd. in Hubei Province started production a week ago and are expected to produce the first batch of vanadium nitride in a month. If the orders are sufficient, the company is able to sell 1,400t of the material per year.

“Our vanadium nitride production lines were put into operation last week, with a production cycle of 40 days. It is expected that the first batch of vanadium nitride will be produced in a month,” said the source. He added, “Our company used to produce ferrovanadium 50%min. As we are optimistic about the market outlook of vanadium nitride, we spent a huge sum of money to build two new production lines for the material, each with an annual capacity of 700t.” The company started to accept vanadium nitride orders for a month later, and it offers RMB250,000/t (USD37,386/t) EXW D/A 180 days for the material now.

According to Asian metal, mainstream prices for Chinese vanadium nitride were RMB245,000-248,000/t (USD3,638-37,087/t) EXW D/A 180 days this Wednesday, down by RMB17,000/t (USD2,542/t) from last week. Because of high prices for vanadium pentoxide flake, most vanadium nitride producers use cheaper ammonium metavanadate as the raw material, striving to avoid the prices falling below costs. Chinese vanadium nitride prices might edge up in the coming week.