BEIJING (Asian Metal) 28 Apr 20 – With an annual consumption capacity of 840t for vanadium nitride, Shagang Group Yongxing Steel Co. Ltd started their bidding for 60t of vanadium nitride this Tuesday and would finish the purchase before May.

“We just start to purchase today and the current quotation for vanadium nitride we received stands at around RMB148,000/t (USD27.1/kg V) delivered D/A 180 days.  We could surely close the deal at no more than RMB145,000/t (USD26.6/kg V),” said the source. Their last deal was made late last month, when they bought 60t at RMB142,000/t (USD26.0/kg V). As prices of raw materials vanadium pentoxide flake 98%min stayed firm during the past month, most suppliers of vanadium nitride tried to increase their quotation to reduce losses. He thinks that RMB145,000/t (USD26.6/kg V) is a middle price level, which could be accepted by both supplier and consumer.

Located in Anyang, Henan, this company belongs to Shagang Group but they purchase vanadium products by independence.

This Monday, mainstream prices of Chinese vanadium nitride stand at RMB145,000-148,000/t (USD26.6-27.1/kg V) delivered D/A 180 days, up by RMB3,000/t (USD0.6/kg V) from last week.

www.asianmetal.com