BEIJING (Asian Metal) 24 May 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB178,000-181,000/t (USD33.4-34.0/kg V) EXW D/A 180 days, down by RMB19,000/t (USD3.6/kg V) from last week. As the demand keeps weak, most producers reduced their production. Both the supply and demand of vanadium nitride market keep soft. Insiders believe prices of this material would continue dropping in the coming week.
A producer in South China quotes vanadium nitride at RMB186,000/t (USD34.9/kg V) EXW D/A 180 days at the moment, down by RMB14,000/t (USD2.6/kg V) from last week. “Our last deal was made early this week, when we sold 20t at RMB180,000/t (USD33.8/kg V) to one of our regular clients. For new orders, I can accept the same price level,” said the source. Considering the demand keeps weak, he believes prices of this material would drop by RMB2,000/t (USD0.4/kg V) in the coming week.
With an annual production capacity of 3,600t for vanadium nitride, the producer produced 200t in April and expects the same volume in May, holding no stock now.
A producer in Northwest China quotes vanadium nitride at RMB180,000/t (USD33.8/kg V) EXW D/A 180 days now, down by RMB20,000/t (USD3.8/kg V) from last week. “I heard one steel mill bought 100t vanadium nitride at RMB178,000/t (USD33.4/kg V), which is about RMB2,000/t (USD0.4/kg V) lower than our bottom price. Acturally, the current quotation for raw material vanadium pentoxide flake 98%min I received keeps at RMB120,000/t (USD8.0/lb V),” said the source. He added, “The cost keeps high, if prices are lower than our quotation, we won’t consider to accept any orders.” He believes mainstream prices of this material would drop to RMB178,000/t (USD33.4/kg V) in the coming week.
With an annual production capacity of 1,200t for vanadium nitride, the producer produced 80t in April and expects the same volume in May, holding no stock now.
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