BEIJING (Asian Metal) 28 Apr 20 – Laigang Group Yongfeng Co., Ltd. to purchase 90t of vanadium nitride within this week and their target price stays at no more than RMB145,000/t (USD26.6/kg V) delivered D/A 180 days.

“The current prices of vanadium nitride I received all stand above RMB145,000/t (USD26.6/kg V) now. I heard Nanjing Steel just bought 60t of vanadium nitride at RMB146,000/t (USD26.8/kg V) this Monday, including RMB1,700/t (USD0.3/kg V) bidding service fee,” said the source. Their last deal was made early April, when they bought 80t at RMB142,000/t (USD26.0/kg V). As most producers of vanadium nitride hold more than 100t of stocks, he doesn’t believe that prices would keep rebounding in the coming week. They have confirmed with their regular supplier that would close the deal at no more than RMB145,000/t (USD26.6/kg V) this time.

Located in Dezhou, Shandong, they belongs to Laiwu Iron and Steel Group Co., Ltd. but would purchase vanadium nitride by independence. With an annual consumption capacity of 1,200t, they are one of the major consumers for vanadium nitride in China. They consumed about 80t in April, the same as March, holding about half a month’s consumption as regular inventory.

This Monday, mainstream prices of Chinese vanadium nitride stand at RMB145,000-148,000/t (USD26.6-27.1/kg V) EXW D/A 180 days, up by RMB3,000/t (USD0.6/kg V) from last week.