The Bidding Result For Vanadium Nitride Of Bayi Steel

BEIJING (Asian Metal) 29 May 20 – Baosteel Group Xinjiang Bayi Iron & Steel Co., Ltd. finished their bidding for 60t of vanadium nitride on 26 May.

“We finished the bidding for June demand this Tuesday. We bought 30t of vanadium nitride at RMB156,595/t (USD28.4/kg V) delivered D/A 180 days from Xinjiang Zhonghao Vanadium Technology Co., Ltd. and another 30t at RMB157,934/t (USD28.7/kg V) delivered D/A 90 days from Shanghai Ouye Industrial Co., Ltd,” a source of this company said. As they would delay by about 50 days to pay, so their dealing prices are higher than market prices. The current price for vanadium pentoxide flake 98%min he received stands at RMB99,000/t (USD6.4/lb V2O5) EXW D/A 180 days, up by RMB1,000/t (USD0.1/lb V2O5) from last week. Considering prices of raw material edge up, he believes that mainstream prices of vanadium nitride would stay firm in the coming week.

Located in Urumqi, they are the major consumer for vanadium nitride in Xinjiang. With an annual consumption capacity of 720t for vanadium nitride, they consumed about 500t in 2019. They expect to consume about 60t in May, up by 10t from April, holding about one month’s demand as regular inventory.

Currently, mainstream prices of Chinese vanadium nitride stand at RMB152,000-155,000/t (USD27.6-28.1/kg V) delivered D/A 180 days, unchanged from last week.