BEIJING (Asian Metal) 5 Dec 19 – As prices of raw material keeps high and dealing prices of vanadium nitride always stay below the cost line, Tianjin Weirunda New Material Sci-Tech Co.,Ltd stopped production for vanadium nitride this Wednesday.
“The current prices of vanadium pentoxide flake of major producers keep firm at RMB100,000/t (USD6.6/lb V2O5) EXW D/A 180 days at the moment and we bought enough raw material at this price level one month ago. The cost of vanadium nitride needs at least RMB155,000/t (USD28.5/kg V). However, it’s hard to close deal at more than RMB148,000/t (USD27.3/kg V) at the moment,” said the source. They stopped production from this Wednesday and would hold their stocks to watch the market. They are in no hurry to sell at low price level now.
With an annual production capacity of 1,200t, the company is the unique producer for vanadium nitride in Tianjin. They produced 30t in November, down by 20t from October, holding about 32t of stocks.
Currently, mainstream prices for Chinese vanadium nitride stand at RMB145,000-148,000/t (USD26.7-27.3/kg V) EXW D/A 180 days, down by RMB4,000/t (USD0.7/kg V) from last week, up by RMB2,000/t (USD0.4/kg V) from the nadir this Monday.
www.asianmetal.com
