BEIJING (Asian Metal) 1 Nov 19 – Currently, mainstream prices for Chinese vanadium nitride dropped to RMB157,000-160,000/t (USD29.0-29.5/kg V) EXW D/A 180 days, down by RMB7,000/t (USD1.3/kg V) from early this week. Steel mills refuse to accept higher price level and suppliers are facing high pressure to sell their products. Insiders believe prices of vanadium nitride would keep dropping in the coming week.
A producer in North China quotes their vanadium nitride at RMB160,000/t (USD29.5/kg V) EXW D/A 180 days and can accept RMB158,000/t (USD29.1/kg V) for firm bids, down by RMB8,000/t (USD1.5/kg V) from this Monday. “The current price for raw material vanadium pentoxide flake 98%min has dropped to RMB100,000/t (USD6.6/lb V2O5) now. We can earn about RMB2,000/t (USD0.4/kg V) for vanadium nitride at the moment. If prices drop again, we will have to close production line,” said the source. Their last deal was made this Wednesday, when they sold 20t at RMB158,000/t (USD29.1/kg V). He believes prices of vanadium nitride would drop by RMB2,000/t (USD0.4/kg V) in the coming week.
With an annual production capacity of 1,200t, they produced 70t in October, down by 20t from September, holding 20t of stocks now.
Another producer in North China claimed their lowest quotation for vanadium nitride at RMB160,000/t (USD29.5/kg V) EXW D/A 180 days at the moment, down by RMB7,000/t (USD1.3/kg V) from early this week. “We sold 20t at this price level this Thursday,” said the source. He added, “I heard prices of raw material vanadium pentoxide flake 98%min have dropped to RMB95,000/t (USD6.2/lb V2O5) EXW D/P now, down by RMB10,000/t (USD0.7/lb V2O5) from one week ago.” Considering the cost keeps dropping, he believes prices of vanadium nitride would drop by RMB5,000/t (USD0.9/kg V) in the coming week.
With an annual production capacity of 2,000t, they produced 150t in September and 120t in October, holding 40t of stocks now.
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