BEIJING (Asian Metal) 29 Nov 18 – With an annual production capacity of 960t for vanadium nitr[ide, Shandong Jigang Alloy Material Technology Co. LTD stopped production this Thursday as prices keep dropping and the demand stays soft.
“We stopped production for vanadium nitride from this Thursday and would only keep the furnace temperature in the coming month as prices drop too much in the past week,” said the source. The current price for raw material vanadium pentoxide flake 98%min he received stays at RMB95,000/t (USD6.2/lb V2O5) EXW D/P and the cost of vanadium nitride keep firm at RMB148,000/t (USD27.3/kg V) EXW D/P now. However, bidding prices of major steel mills have dropped below RMB145,000/t (USD26.8/kg V) EXW D/A 180 days, down by RMB7,000/t (USD1.3/kg V) from last week.
They are the only producer for vanadium nitride in Shandong, they produced 80t in October and 60t in November, holding 20t of stocks now.
This Thursday, mainstream prices for Chinese vanadium nitride drop to RMB145,000-148,000/t (USD26.8-27.3/kg V) EXW D/A 180 days, down by RMB4,000/t (USD0.7/kg V) from this Wednesday.
www.asianmetal.com
