Laiwu Steel Group Announces Bidding Results for Vanadium Nitride

BEIJING (Asian Metal) 30 Apr 19 – Laiwu Steel Group finished its bidding for vanadium nitride in late April, buying 180t of the material at RMB233,000/t (USD34,575/t) delivered D/A 180 days. This price is RMB25,000/t (USD3,710/t) lower than the bidding price in March, and therefore imposes a heavy downward pressure on prices for Chinese vanadium products.

The company last purchased 140t of vanadium nitride at RMB258,000/t (USD38,285/t) delivered D/A 180 days in late March.

Statistics from Asian Metal show that most Chinese vanadium nitride suppliers quoted the material at RMB250,000-253,000/t (USD37,098-37,543/t) EXW D/A 180 days, down by RMB8,000/t (USD1,187/t) from late last week. Though most suppliers hold back from selling in order to keep their prices unchanged, they are unable to stand firm in resisting the overall downward trend in vanadium nitride prices. Insiders believe that prices for Chinese vanadium nitride would go down on the whole in the coming week.