Panjin Yilong Stops Production For Vanadium Nitride

BEIJING (Asian Metal) 24 Apr 20 – With an annual production capacity of 3,000t for vanadium nitride, Panjin Yilong Metallurgy Co. LTD stopped production from late last week for lack of raw materials.

“The current price for vanadium pentoxide flake 98%min I received stand firm at RMB93,000/t (USD6.1/lb V2O5) EXW D/P, unchanged from last month. According to this price level, we need to sell vanadium nitride at more than RMB145,000/t (USD26.6/kg V) EXW D/P,” said the source. Their regular clients refuse to purchase vanadium nitride at more than RMB143,000/t (USD26.2/kg V) at the moment. In order to reduce the losses, they just produced for half a month in April. They are maintaining the furnace temperature and watch the market now.

Located in Panjin, Liaoning, they are one of four producers for vanadium nitride producers in Northeast. They produced 700t in 2019. They produced about 50t in April, down by 50t from March, holding no stocks at the moment.

Currently, mainstream prices for Chinese vanadium nitride stand at RMB142,000-145,000/t (USD26.0-26.6/kg V) EXW D/A 180 days, up by RMB3,000/t (USD0.6/kg V) from last week. Bidding prices of major steel mills are following up market quotation slowly.