BEIJING (Asian Metal) 18 Sep 19 – As the profit margin is compressed greatly by upstream and downstream, Zaoyang Pingfan Vanadium Nitride Alloy Co., Ltd closed one of all two production lines.
“The current quotation for raw material vanadium pentoxide flake 98%min keep firm at RMB130,000/t (USD8.5/lb V2O5) EXW D/A 180 days and the cost of vanadium nitride keep high at RMB197,600/t (USD36.2/kg V),” said the source. He added, “Major steel mills refuse to buy at more than RMB198,000/t (USD36.2/kg V).” As there is nearly no profit, most producers of vanadium nitride can hardly operate. This company closed one production line from this Monday.
Located in Hubei, with an annual production capacity of 1,400t for vanadium nitride, they produced 80t in August and expect 40t in September, holding no stock now.
Currently, mainstream prices for vanadium nitride stand at RMB195,000-198,000/t (USD35.7-36.2/kg V) EXW D/A 180 days, unchanged from last week.
www.asianmetal.com
