Minyuan Steel Plans To Make Purchase For Vanadium Nitride In Late September

BEIJING (Asian Metal) 25 Sep 19 – Anyang Iron And Steel Group Minyuan Special Steel Co., Ltd plans to buy 20t of vanadium nitride within September.

“We plan to send inquiries to vanadium nitride producers in the coming day for 20t and we must finish the purchase in this month,” said the source. He received the current price for vanadium pentoxide flake 98%min keep firm at RMB130,000/t (USD8.4/lb V2O5) EXW D/A 180 days, unchanged from last week. He believes prices of vanadium nitride would stay steady in the coming week.

Located in Shangqiu Henan, with an annual consumption capacity of 360t, they consumed 240t in 2018 and have consumed 180t in 2019. They expect to consume 20t in September, unchanged from August, holding 10t of stocks now, the same with last month.

Currently, mainstream prices for Chinese vanadium nitride stand at RMB197,000-200,000/t (USD36.0-36.5/kg V) EXW D/A 180 days, up by RMB1,000/t (USD0.2/kg V) from this Tuesday.