BEIJING (Asian Metal) 16 May 19 – Maanshan DingHua Vanadium Nitrogen Technology Co., Ltd., which has stopped production for nearly five years, has completed the construction of its new production lines and plant, and is ready to start production. It will resume production according to the market price trend, a source revealed.
“Our company has stopped production since July 2014. Due to the relocation, we rebuilt four vanadium nitrogen alloy production lines with an annual capacity of 5,760t. The original plant’s annual capacity was only 1,200t. The infrastructure construction of our new factory has been completed. To avoid suspending production again after starting operation and take the falling prices into consideration, we are not in a hurry to resume production and prefer to wait on the sidelines temporarily,” said a source from the company.
Currently, mainstream prices for Chinese vanadium nitride are RMB202,000-205,000/t (USD29,378-29,814/t) EXW D/A 180 days, down by RMB20,000/t (USD2,909/t) from last week. Due to weak demand, most producers cut output to varying degrees. Market participants are very pessimistic about the market outlook. Prices for Chinese vanadium nitride are expected to move down in the coming week.
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