Date: Nov 16, 2018
BEIJING (Asian Metal) 16 Nov 18 – According to a source, Chongyang Xinrui Vanadium Co., Ltd. in Hubei Province started to build additional two production lines for vanadium nitride in view of the promising demand for the material. These two production lines are expected to be put into operation after the Spring Festival, and could supply the market with 1,400tpy at most.
A source from the company revealed, “After the new standard on rebar was carried out, the demand for vanadium nitride is expected to improve. Therefore, we added two production lines for the material, and each of them has a capacity of 700tpy. These two production lines have basically taken shape so far, and are expected to be put into operation after the Spring Festival.” The company mainly produces ferrovanadium at present Although prices for ferrovanadium and vanadium nitride moved down temporarily, the source is still optimistic about the market outlook as there would be no improvement for the tight supply of the raw material vanadium pentoxide in a short time and steel mills’ demand for vanadium products is expanding.
