Jinshi Mining Stops Production Of Ammonium Metavanadate For Maintenance

BEIJING (Asian Metal) 12 Sep 19 – Chaoyang Jinshi Mining Co., Ltd., with an annual production capacity of 960t for ammonium metavanadate, stopped production this Monday for maintenance and plans to restart about one week later.

“We meet some problems in the production process and we stopped production this Monday. If everything goes well, we would restart on 20 September,” said the source. Their last deal was made two weeks ago, when they sold 30t at RMB125,000/t (USD17.6/kg) Inc-VAT EXW D/P. For orders delivered in October, they insist on this price level now. They import vanadium ore 1.5%min as raw material and the current prices keep around at RMB980/t (USD0.14/kg) CIF Jinzhou. According to Asian Metal, the current price for the same style vanadium ore in Henan only stands around at RMB500/t (USD0.07/kg). As their cost keeps high, they refuse to drop quotation to absorb new orders.

With an annual production capacity of 960t, the company produced about 70t in August and expects 30t in September. They have no stock at the moment, donw by 30t from late last month. They just start to produce from 15 May, they have produced 160t so far.

This Thursday, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB122,000-125,000/t (USD17.1-17.6/kg) Inc-VAT EXW D/P, unchanged from late last week.