Zenith Steel Finishes Its Purchase Of Vanadium Nitride

BEIJING (Asian Metal) 28 Apr 20 – Zenith Steel Group Company Limited finished its purchase for vanadium nitride last Sunday, when they bought 140t at RMB145,000/t (USD26.6/kg V) delivered D/A 180 days, up by RMB3,000/t (USD0.6/kg V) from last month.

“We plan to buy 160t but only finished 140t at RMB145,000/t (USD26.6/kg V) at last,” said the source. Their last deal was made late last month, when they bought 150t at RMB142,000/t (USD26.0/kg V).¬†Though most suppliers tried to increase their quotation during the past month, considering market inventory stays at a history high level, he believes that market prices would stay in a stalemate in the coming week.

Located in Changzhou, Jiangsu, they are one of the major consumers of vanadium nitride in China. With an annual consumption capacity of 2,000t, they expect to consumed about 150t in April, unchanged from March, holding about 140t of stocks now.

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