BEIJING (Asian Metal) 29 May 19 – Zaoyang Pingfan Vanadium-Nitrogen Co., Ltd., with an annual capacity of 1,460t for vanadium nitride, has been out of production for two and a half years, and is now ready for the production resumption, according to a source.

“Our company has not started production since the beginning of 2017. The production lines have been completely transformed up to now and can start operation at any time. However, given the falling vanadium nitride prices, we prefer to wait on the sidelines for the time being,” said a source from the company. “When starting operation, we can produce up to 4tpd of vanadium nitride,” he added.

The company, located in Wangwan Vanadium Titanium Technology Industrial Park, Zaoyang city, Hubei Province, was jointly established by Hubei High Technology Industry Investment Co., Ltd and Hubei Pingfan Mining Co., Ltd. Its current annual capacity is 1,460t, and the long-term planning one is 8,000t.

Currently, mainstream prices for Chinese vanadium nitride are RMB176,000-179,000/t (USD33.1-33.7/kg V) EXW D/A 180 days, down by RMB2,000/t (USD0.1/kg V) from last week. In view of the weak downstream demand, market participants predicted that Chinese vanadium nitride prices would move down in the coming week.