BEIJING (Asian Metal) 27 Jun 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min are RMB122,000-125,000/t (USD8.2-8.4/lb V) Inc-VAT EXW D/P, down by RMB1,000/t (USD0.1/lb V) from last week. Consumers only make purchase according to urgent need and the market keeps quiet. Insiders believe prices of this material would stay steady in the coming week.
A producer in Northwest China quotes their ammonium metavanadate 98%min at RMB125,000/t (USD8.4/lb V) Inc-VAT EXW D/P and can accept RMB124,000/t (USD8.4/lb V) for firm bids, down by RMB1,000/t (USD0.1/lb V) from last week. “Our regular clients are all watching the market now and inquiries are hard to see. Inorder to promote sales, we have to drop prices. However, one major regular buyer only to accept RMB122,000/t (USD8.2/lb V) for 30t,” said the source. Their last deal was made early last week, when they sold 30t at RMB125,000/t (USD8.4/lb V). Considering the market keeps quiet, he believes prices of this material would keep steady in the coming week.
With an annual production capacity of 1,000t for ammonium metavanadate, they produced 70t in May and expect the same volume in June, holding 30t of stock now.
Another producer in Northwest China quotes at RMB130,000/t (USD8.8/lb V) Inc-VAT EXW D/P for ammonium metavanadate 98%min at the moment. “We are out of production now. We have about 20t of stock and are in no hurry to sell at the moment,” said the source. He added, “Our major buyer wants to buy all the stock but only would like to accept RMB122,000/t (USD8.2/lb V).” Consideing the demand keeps weak, he believes mainstream prices of this material would keep at around RMB125,000/t (USD8.4/lb V).
With an annual production capacity of 500t for ammonium metavanadate, they produced 20t in June and expect 40t in July, holding 20t of stock now.
www.asianmetal.com
