BEIJING (Asian Metal) 12 Sep 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB195,000-198,000/t (USD35.6-36.1/kg V) EXW D/A 180 days, down by RMB2,000/t (USD0.4/kg V) from last week. Major steel mills refuse to buy at high price level and most producers for vanadium nitride are facing high pressure to sell their products. Insiders believe prices of vanadium nitride would stay weak in the coming week.
A producer in Northwest China quotes their vanadium nitride at RMB200,000/t (USD36.5/kg V) EXW D/A 180 days and can accept RMB198,000/t (USD36.1/kg V) at the moment, down by RMB2,000/t (USD0.4/kg V) from last week. “Our last deal was made early this week, when we sold 30t at RMB198,000/t (USD36.1/kg V). We received an inquiry this Wednesday for 30t and the buyer wants to buy at no more than RMB195,000/t (USD35.6/kg V),” said the source. He received the current price for raw material vanadium pentoxide flake 98%min stays firm at RMB130,000/t (USD8.5/lb V2O5) EXW D/A 180 days, unchanged from last week. Considering the cost doesn’t drop, he believes prices of vanadium nitride would keep weak in the coming week.
With an annual production capacity of 2,000t for vanadium nitride, they produced 150t in August and expect the same volume in September, holding 50t as regular stocks now.
A trader in South China noted the lowest price he received stands at RMB195,000/t (USD35.6/kg V) EXW D/A 180 days, down by RMB3,000/t (USD0.5/kg V) from last week. “We bought 20t for inventory this Monday at RMB195,000/t (USD35.6/kg V). I believe prices have touched the bottom now as none producers of vanadium pentoxide flake would like to drop their quotation any more,” said the source. He learnt prices of vanadium pentoxide flake 98%min keep firm at RMB130,000/t (USD8.5/lb V2O5), unchanged from last week.
With a regular trading volume of 60tpm, they sold 650t in 2018 and have sold 400t so far this year. They sold 60t in August and expect the same volume in September. They have 30t in hand now, unchanged from last month.
www.asianmetal.com
