Nanjing Iron and Steel Announces Bidding Results for Vanadium Nitride

BEIJING (Asian Metal) 30 Apr 19 – Nanjing Iron and Steel Co., Ltd. invited bids on April 29 to purchase 30t of vanadium nitride, and the final purchase price was RMB237,000/t (USD35,167/t) delivered D/A 180 days.

The purchase price was about RMB23,000/t (USD3,417/t) lower than expected, which made it more possible for vanadium products’ prices to fall.

According to Asian Metal, most Chinese suppliers offered vanadium nitride at RMB250,000-253,000/t (USD37,096-37,541/t) EXW D/A 180 days this Tuesday, down by RMB8,000/t (USD1,187/t) from late last week. As the purchase prices of several steel mills were all lower than expected, prices for Chinese vanadium nitride would fall below RMB240,000/t (USD35,612/t) in the coming week.