BEIJING (Asian Metal) 13 Jun 19 – According to a source, Tianjin Weirunda New Material Technology Co., Ltd., with an annual capacity of 1,200t for vanadium nitride, are preparing for the production resumption, and expects to start production in late June. The company has been out of production for more than a year.
“Our company has been out of production from last April until now, during which we upgraded the equipment, and we planned to resume production in late June. Based on our orders, we expect to produce 60t to 70t of vanadium nitride in July. In addition, only Tianjin Weirunda New Material Technology Co., Ltd. resumed production this time, and its branch in Luoyang would wait on the sidelines temporarily,” a source from the company disclosed. He said that the current vanadium market is relatively stable, and is able to embrace a brighter future.
Headquartered in Tianjin Baodi Economic Development Zone, the company is the only production enterprise of vanadium nitride in Tianjin, and Luoyang weirunda metallurgical materials co., LTD is its subsidiary.
Currently, mainstream prices for Chinese vanadium nitride are RMB197,000-200,000/t (USD37.1-37.6/kg V) EXW D/A 180 days, up by RMB22,000/t (USD4.1/kg V) from last week. Despite that transactions failed to improve significantly, most suppliers refused to sell at low prices supported by high production costs. Thus, prices for Chinese vanadium nitride are expected to edge up in the coming week.
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