BEIJING (Asian Metal) 3 Sep 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB121,000-124,000/t (USD16.9-17.3/kg) Inc-VAT EXW D/P, down by RMB1,000/t (USD0.1/kg) from last week. Most producers are facing huge sales pressure at the moment as the demand keeps soft. Insiders believe prices of ammonium metavanadate would keep weak in the coming week.
A producer in Liaoning conveyed their last deal was made last Thursday, when they sold 30t at RMB125,000/t (USD17.4/kg) Inc-VAT EXW D/P and they can accept RMB124,000/t (USD17.3/kg) for firm bids at the moment. “Inquiries are hard to see now. Inorder to promote sales, we have to drop our price. Some buyers who has intention to buy only want to accept at no more than RMB120,000/t (USD16.7/kg),” said the source. They buy vanadium ore from South Africa as raw material, the current prices keep firm at RMB980/t (USD0.14/kg) CIF Jinzhou. Considering the cost keeps high, he believes prices of ammonium metavanadate would stay steady in the coming week.
With an annual production capacity of 1,200t for ammonium metavanadate, they produced 80t in August and expect the same volume in September, holding 20t of stocks now.
A producer in Shaanxi claimed their quotation for ammonium metavanadate 98%min keeps at RMB110,000/t (USD15.3/kg) EX-VAT EXW D/P and can accept RMB108,000/t (USD15.1/kg) for firm bids now, down by RMB2,000/t (USD0.3/kg) from one week ago. “Our last deal was made last Friday, when we sold 32t at RMB108,000/t (USD15.1/kg). During the past two weeks, our dealing prices dropped from RMB112,000/t (USD15.6/kg) to RMB108,000/t (USD15.1/kg) as inquiries are hard to see,” said the source. According to what they discussed with their major clients, he believes prices of ammonium metavanadate 98%min would drop by RMB1,000/t (USD0.1/kg) in the coming week.
With a production capacity of 960tpy for ammonium metavanadate, they produced 50t in August and expect the same volume in September. They have about 30t in hand now.
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