Shaoguan Iron & Steel’s Bidding Result for Vanadium Nitride Puts Pressure on The Downtrend of Vanadium Prices

BEIJING (Asian Metal) 27 Jun 19 – Guangdong Shaoguan Iron & Steel Co., Ltd. under Baowu Group completed its bidding for vanadium nitride on June 25 and purchased 80t of vanadium nitride at RMB188,000/t (USD35.3/kg V) Inc-VAT delivered D/P.

The bidding price is slightly lower than market expectation and brings notable pressure to the downtrend of prices for vanadium nitride.

Currently, mainstream prices for Chinese vanadium nitride are RMB192,000-195,000/t (USD36.1-36.6/kg V) EXW D/A six months, down by RMB8,000/t (USD1.5/kg V) from a week ago. At present, most producers produce and make delivery for previous orders, facing little pressure from inventory. However, as the raw material vanadium pentoxide prices are at high levels, market players believe prices for Chinese vanadium nitride would keep weakly stable in the coming week.