Yuzhong Steel Finishes The Bidding For Vanadium Nitride

BEIJING (Asian Metal) 9 Jun 20 РJiuquan Iron & Steel Group Yuzhong Iron & Steel Co., ltd. finished their bidding for 30t of vanadium nitride last Friday and the price touched a new high level.

“We bought 30t of vanadium nitride at RMB177,500/t (USD32.6/kg V) delivered D/A 180 days on 5 June,” a source from this company said. He heard Huludao Hongjing just sold 32t of vanadium pentoxide flake 98%min at RMB113,000/t (USD7.41/lb V2O5) EXW D/P this Monday. Considering the cost keeps high, he believes that mainstream prices of vanadium nitride would break up RMB180,000/t (USD33.1/kg V) in the coming week.

Located in Jiayuguan, they are one of the major vanadium nitride consumers in Northwest China. With an annual consumption capacity of 1,500t, they consumed about 120t in May and expect the same volume in June, holding about one month’s demand as regular stocks.

Currently, mainstream prices of Chinese vanadium nitride stand at RMB172,000-175,000/t (USD31.6-32.1/kg V) EXW D/A 180 days, up by RMB2,000/t (USD0.42/kg V) from late last week.