BEIJING (Asian Metal) 25 Oct 19 – Currently, mainstream prices for Chinese vanadium nitride dropped to RMB175,000-178,000/t (USD32.1-32.7/kg V) EXW D/A 180 days, down by RMB6,000/t (USD1.1/kg V) from this Wednesday. Suppliers are in hurry to reduce stocks, which leads prices keep dropping. Insiders believe prices of vanadium nitride would continue the declining trend in the coming week.
A producer in Northwest China quotes their vanadium nitride at RMB180,000/t (USD33.1/kg V) EXW D/A 180 days and can accept RMB178,000/t (USD32.7/kg V) for firm bids, down by RMB4,000/t (USD0.7/kg V) from this Wednesday. “We signed contract for 20t with one of our steel mill clients at RMB178,000/t (USD32.7/kg V) Delivered D/A 180 days this Wednesday. Major steel mills will start to make purchase at the end of this month and I heard their target prices keep around at RMB170,000/t (USD31.2/kg V),” said the source. Considering the supply situation keeps loose, he believes prices of vanadium nitride would drop to RMB170,000/t (USD31.2/kg V) in the coming week.
With an annual production capacity of 1,200t, they produced 90t in September and expect the same volume in October, holding 20t of stocks now.
A producer in North China claimed the lowest price for vanadium nitride they can accept at RMB175,000/t (USD32.1/kg V) EXW D/A 180 days, down by RMB7,000/t (USD1.3/kg V) from this Wednesday. “I received an inquiry for 20t and the buyer only wanted to buy at no more than RMB172,000/t (USD31.6/kg V) Delivered D/A 180 days. They would like to buy at the end of this month. I believe mainstream price would drop to this price level in the coming week,” said the source. Their last deal was made last Thursday, when they sold 30t at RMB184,000/t (USD33.8/kg V).
With a production capacity of 2,400tpy, they produced 180t in September and expect the same volume in October, holding 100t of stocks at the moment.
www.asianmetal.com
