Date: Nov 9, 2018
BEIJING (Asian Metal) 9 Nov 18 – Currently, mainstream prices of Chinese ammonium metavanadate 98%min decrease to RMB464,000-467,000/t (USD31.00-31.20/lb V) Inc-VAT EXW D/P, down by RMB43,000/t (USD2.87/lb V) from last Friday. As downstream demand keeps weak, suppliers drop prices to promote sales. Insiders believe prices will continue decreasing in the coming week.
A producer in North China quotes ammonium metavanadate 98%min at RMB470,000/t (USD31.40/lb V) Inc-VAT EXW D/P at present, down by RMB40,000/t (USD2.67/lb V) from last Friday. In order to reduce stocks, we have to drop prices to attract buyers,” said the source. Their last deal was made this Tuesday, when they cleared out all 10t inventory at RMB400,000/t (USD26.72/lb V) Ex-VAT EXW D/P. He believes the price would decrease to RMB460,000/t (USD30.73/lb V) Inc-VAT EXW D/P in the coming week.
