BEIJING (Asian Metal) 26 Aug 19 – Xinjiang Zhonghao Vanadium Technology Co. LTD. restarted the second production line for vanadium nitride last Friday. They have 3 production lines in total and they were only using 1 line during the past 9 months.
“We are awalys lack of raw materials, which limited our production for vanadium nitride. During the past 9 months, we can only produce by 1/3 production capacity. We signed long-term contract with our vanadium pentoxide flake producer and we have enough resources to produce by 2/3 procuction line now,” said the source of this company. They just bought 154t vanadium pentoxide 98%min at RMB130,000/t (USD8.5/lb V2O5) EXW D/A 180 days last Thursday, which is only one part of there long-term contracts.
Located in Changji Xinjiang, they are one of two major producers for vanadium nitride in the local area. With an annual production capacity of 3,600t, the company produced 70t in July and plans to produce 110t in August, holding 30t of regular stocks now.
Currently, mainstream prices for Chinese vanadium nitride stand at RMB200,000-203,000/t (USD36.6-37.2/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from last Thursday. Considering the cost keeps high, insiders believe prices of vanadium nitride would keep steady in the coming week.
www.asianmetal.com
