BEIJING (Asian Metal) 30 Apr 19 – Mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB155,000-158,000/t (USD23,020-23,466/t) Inc-VAT EXW D/P at present, up by RMB2,000/t (USD297/t) from last week. Affected by severe environmental inspection, the output of ammonium metavanadate is restricted, and suppliers all try to raise their offers. But the purchase prices for vanadium products from steel mills were lower than expected, which makes it harder for ammonium metavanadate prices to rise. Insiders predicted that Chinese ammonium metavanadate prices would be steady in the coming week.
A consumer in North China noted the offer for ammonium metavanadate 98%min he received was RMB160,000/t (USD23,763/t) Inc-VAT EXW D/P, and the lowest price of the supplier could be RMB158,000/t (USD23,466/t) for firm bids, up by RMB2,000/t (USD297/t) from last week. “We purchase ammonium metavanadate as the raw material, mainly producing vanadium powder 99%min. Prices for ammonium metavanadate 98%min were around RMB160,000 (USD23,763/t) early this week, and those for vanadium powder 99%min were around RMB200,000/t (USD29,704/t),” said the source. He last purchased 30t of ammonium metavanadate 98%min at RMB158,000/t (USD23,466/t) late last week. Due to the weak downstream demand, their operating rate is less than 50%. He predicted that Chinese ammonium metavanadate prices would be weakly stable in the coming week.
With an annual consumption capacity of 1,800t for ammonium metavanadate, the consumer used 70t in March, and expects the same volume this month, holding 40t of stocks now.
A producer in South China offers ammonium metavanadate 98%min at RMB159,000/t (USD23,614/t) Inc-VAT EXW D/P now, and the lowest price is RMB158,000/t (USD23,466/t) for firm bids, up by RMB3,000/t (USD446/t) from last week. He said, “We last sold 20t at RMB155,000/t (USD23,001/t) EXW D/P early last week, and are in no hurry to accept new orders now as we have cleared our stocks. If any consumers can accept our lowest price, we will arrange the production increase in time.” He revealed that the Kunming Iron and Steel’s purchase price for vanadium nitride was only RMB242,000/t (USD25,941/t) in late April, while the expected one was RMB255,000/t (USD37,841/t). Considering the purchase prices for vanadium products were much lower than expected, he predicted that ammonium metavanadate prices would bear downward pressure in the coming week.
With an annual production capacity of 840t of ammonium metavanadate, the producer produced 50t in March, and expects the same volume in April, holding no stocks now.
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