Date: Nov 20, 2018
BEIJING (Asian Metal) 20 Nov 18 – Currently, mainstream prices of Chinese vanadium nitride drop to RMB750,000-753,000/t (USD140.30-140.86/kg V) Inc-VAT EXW D/A 180 days, down by RMB7,000/t (USD1.31/kg V) from last Friday. Few steel mills are bidding at the moment. Considering screw steel prices dropped, insiders believe prices for Chinese vanadium nitride would keep dropping in the coming week.
A producer in Northeast China quotes vanadium nitride at RMB755,000/t (USD141.24/kg V) at present, down by RMB5,000/t (USD0.94/kg V) from last week. “I didn’t hear any steel mills are biddiing, and it’s hard to get new orders at the moment,” said the source. He added, they produce the raw material vanadium pentoxide flake by themselves, so they have huge advantages in controlling cost. They could accept a counteroffer of RMB5,000/t (USD0.94/kg V ) at most. Their last deal was made three weeks ago, when they sold 20t at RMB805,000/t (USD150.59/kg V ). He predicts prices would edge down in the coming week.
