BEIJING (Asian Metal) 3 Jul 19 – Hubei Haohaiyuan Commerce and Trade Co., Ltd., with an annual production capacity of 500t for ammonium metavanadate, will resume production in a week, before which the company has suspended production for four months, a source from the company disclosed to Asian Metal..

The source noted, “We are an industrial and trade enterprise. Normally, we can produce 30-40t of ammonium metavanadate every month, but we stopped production in early April due to the weak market demand and low prices. We plan to resume production on July 10.” He added, “We just sold 10t of ammonium metavanadate 98%min at RMB102,000/t (USD6.9/lb V) Ex-VAT EXW D/P early this week.”

Located in Chongyang, Hubei, the company is one of many local ammonium metavanadate production enterprises. Its production status and sales mode are the epitome of the trading activities of vanadium industry in Chongyang.

On Wednesday, mainstream prices for ammonium metavanadate 98%min in China were RMB115,000-118,000/t (USD7.7-8.0/lb V) Inc-VAT EXW D/P, down by RMB2,000/t (USD0.1/lb V) from last Friday.Ammonium metavanadate market is in a weak state of supply and demand due to weak demand in downstream market and severe environmental protection situation. It is expected that prices for ammonium metavanadate in China would remain weakly stable in the coming week.