BEIJING (Asian Metal) 24 Sep 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB123,000-126,000/t (USD17.3-17.7/kg) Inc-VAT EXW D/P, up by RMB1,000/t (USD0.1/kg) from last week. As the cost keeps high, few suppliers would like to drop price to absorb orders. Insiders believe prices of ammonium metavanadate would stay firm in the coming week.
A producer in North China noted their lowest quotation for ammonium metavanadate 98%min keeps at RMB126,000/t (USD17.7/kg) Inc-VAT EXW D/P at the moment, up by RMB1,000/t (USD0.1/kg) from last week. “Our last deal was made last Monday, when we sold 15t at RMB125,000/t (USD17.5/kg),” said the source. He added, the current profit margin is only RMB5,000/t (USD0.7/kg), which is not big enough to expand production. Considering the National Day is coming, he believes prices of ammonium metavanadate would stay steady in the coming week.
With an annual production capacity of 960t for vanadium nitride, they expect to produce 50t in September, down by 20t from August, holding 20t of stocks now.
A consumer in South China claimed the lowest quotation for ammonium metavanadate he received stands at RMB125,000/t (USD17.5/kg) EXW D/P now, up by RMB1,000/t (USD0.1/kg) from last week. “Some producers are trying to increase their quotaion but I don’t think it’s reasonable. As the National Day is coming, the market is abnormal,” said the source. Their last deal was made two weeks ago, when they bought 20t at RMB123,000/t (USD17.3/kg). He believes the market of ammonium metavanadate would keep quiet in the coming week.
With a consumption capacity of 240tpy for ammonium metavanadate, they consumed 150t in 2018 and have consumed 100t so far this year. They expect to consume 10t in September, unchanged from August. They have 5t in hand now, down by 5t from last month.
www.asianmetal.com
