Laigang Group Finishes The Purchase For Vanadium Nitride

BEIJING (Asian Metal) 3 Apr 20 – Laiwu Iron and Steel Group Co., Ltd. just finished their purchase for vanadium nitride this Thursday, whose bidding price could represent mainstream prices as their volume is big enough.

“We prepare to buy 180t and only bought 160t this time, the dealing price stands at RMB142,000/t (USD26/kg V) delivered D/A 180 days. I learnt prices of vanadium pentoxide flake 98%min keep firm at RMB93,000/t (USD6.1/lb V2O5) EXW D/P now, which means our supplier would lose at least RMB5,000/t (USD0.9/kg V) per ton,” said the source. He learnt most producers of vanadium nitride holds about 100-200t of stocks now. As the market supply keeps loose and the rebar market stays soft. He believes that prices of vanadium nitride would drop by RMB1,000/t (USD0.2/kg V) in the coming week.

Located in Laiwu, Shandong, they are one of the major consumers for vanadium nitride in China. With an annual consumption capacity of 2,400t, they consumed 180t in March and expect the same volume in April, holding 160t of stocks at the moment.

Currently, mainstream prices of Chinese vanadium nitride stand at RMB141,000-144,000/t (USD25.8-26.4/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from last week. In order to promote sales, suppliers would like to drop their quotation to accept orders.