BEIJING (Asian Metal) 25 Sep 19 – As the demand keeps soft and prices stand at low level, Fenyi Xinxin Industry and Trading Co., Ltd. stopped production for ammonium metavanadate this Monday.
“Inquiries are hard to see at the moment and we didn’t close any deals in September. We built more than 120t for inventory now and are facing huge pressure to sell, so we have to stop producton,” said the source. They quote at RMB136,000/t (USD19.1/kg) Inc-VAT EXW D/P and can accept RMB133,00/t (USD18.7/kg) for firm bids at the moment. He believes the market of ammonium metavanadate would keeps quiet in the coming week.
Located in Xinyu Jiangxi, with an annual production capacity of 720t for ammonium metavanadate, they produced 60t in August and 40t in September.
This Wednesday, 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, unchanged from this Tuesady.
www.asianmetal.com
