BEIJING (Asian Metal) 9 Jul 20 – Yangchun New Steel Co., Ltd. finished their bidding for 60t of vanadium nitride at RMB166,000/t (USD30.7/kg V) delivered D/A 180 days on 7 July.

“We bought 60t of vanadium nitride at RMB166,000/t (USD30.7/kg V) this Tuesday. I don’t think prices would keep increasing, though suppliers try to increase their quotation from RMB165,000/t (USD30.6/kg V) to RMB170,000/t (USD31.5/kg V) during the past week,” a source from this company said. He received the current prices of vanadium pentoxide flake 98%min at around RMB105,000/t (USD6.9/lb V2O5) EXW D/P, down by RMB500/t (USD0.03/lb V2O5) from last week, which means the cost of vanadium nitride stands at around RMB165,000/t (USD30.6/kg V).

Located in Yangjiang, Guangdong, this company could consume about 60tpm in normal. They consumed about 700t in 2019 and about 350t in the first half of this year.¬†They expect to consume about 60t in July, the same as last month, holding about one month’s consumption as regular stocks.

This Wednesday, mainstream prices of Chinese vanadium nitride stand at RMB165,000-168,000/t (USD30.6-31.1/kg V) delivered D/A 180 days, up by RMB1,000/t (USD0.2/kg V) from this Tuesday.