Date: Nov 16, 2018
BEIJING (Asian Metal) 16 Nov 18 – At present, mainstream prices of Chinese vanadium nitride decrease to RMB757,000-760,000/t (USD141.83-142.39/kg V) Inc-VAT EXW D/A 180 days, down by RMB58,000/t (USD10.87/kg V) from last Friday. As downstream screw steel prices dropped, steel mills exert huge pressure on vanadium nitride producers. Insiders believes prices would keep dropping in the coming week.
A producer in South China quotes vanadium nitride at RMB760,000/t (USD142.39/kg V) at present, down by RMB60,000/t (USD11.24/kg V) from last week. “We participated in one steel bidding from a steel mill early this week, and their target price is just RMB750,000/t (USD140.51/kg V),” said the source. He added, as screw steel prices show downtrend, steel mills tried hard to drive down the prices for raw material vanadium nitride. Their last deal was made in early November, when they sold 20t at RMB820,000/t (USD3.75/kg V). He predicts prices would edge down in the coming week.
