BEIJING (Asian Metal) 20 Nov 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB155,000-158,000/t (USD28.7-29.2/kg V) EXW D/A 180 days, up by RMB10,000/t (USD1.8/kg V) from last week. Though inquiries keep active, few of buyers are end consumers. Insiders are waiting for steel mills to buy at high price level to confirm the increasing trend. Considering the cost keeps high, insiders believe prices of vanadium nitride would keep firm in the coming week.
A producer in Northwest China quotes their vanadium nitride at RMB158,000/t (USD29.2/kg V) EXW D/A 180 days and can accept RMB155,000/t (USD28.7/kg V) for firm bids, up by RMB10,000/t (USD1.8/kg V) from last week. “Our last deal was made early last week, when we sold 20t at RMB145,000/t (USD26.8/kg V) and we won’t accept any orders for immediate shipment before December 10,” said the source. He added, “We just bought 32t of vanadium pentoxide flake 98%min at RMB97,000/t (USD6.4/lb V2O5) EXW D/P. The cost of our vanadium nitride at least needs RMB153,000/t (USD28.3/kg V).” Considering the cost keeps high, he believes prices of vanadium nitride would stay firm in the coming week.
With an annual production capacity of 1,200t, they produced 90t in October and expect the same volume in November. They mainly produce according to orders and holds no stocks now.
A trader in South China claimed the current price for vanadium nitride he received stands at RMB153,000/t (USD28.3/kg V) EXW D/P and can buy at RMB152,000/t (USD28.1/kg V), up by RMB9,000/t (USD1.7/kg V) from last week. “Few steel mills would like to make purchase during the middle of the month. We won’t build stock before we get the orders from our steel mill clients,” said the source. Their last deal was made two weeks ago, when they sold 30t at RMB142,000/t (USD26.3/kg V) Delivered D/P. He added, “I heard prices of vanadium pentoxide flake 98%min keep firm at RMB100,000/t (USD6.6/lb V2O5) EXW D/A 180 days at the moment.” Considering the cost keeps high and few end consumers make purchase now, he believes prices of vanadium nitride would keep steady in the coming week.
With a regular trading volume of 60tpm, they sold 650t in 2018 and have sold 500t so far this year. They expect to sell 60t in November, unchanged from October, holding 20t of stocks now, down by 10t from late last month.
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