BEIJING (Asian Metal) 24 Dec 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB147,000-150,000/t (USD27.2-27.8/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from last week. As the cost keeps high, few producers would like to accept at low price level. Insiders believe that prices of vanadium nitride would keep in a stalemate in the coming week.
A producer in Northwest China quotes their vanadium nitride at RMB146,000/t (USD27.0/kg V) EXW D/P and can accept RMB145,000/t (USD26.9/kg V) for firm bids, down by RMB1,000/t (USD0.2/kg V) from one week ago. “We just bought 32t of raw material vanadium pentoxide flake 98%min at RMB92,500/t (USD6.1/lb V2O5) EXW D/P and the cost of our vanadium nitride stands at RMB144,500/t (USD26.8/kg V),” said the source. Their last deal was made late Friday, when they sold 30t of vanadium nitride at RMB145,000/t (USD26.9/kg V). He believes that prices of vanadium nitride would stay firm in the coming week.
With an annual production capacity of 1,200t, they produced 80t in November and expect the same volume in December, holding 40t of stocks now.
A producer in North China noted their bottom price for vanadium nitride stands at RMB150,000/t (USD27.8/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from last week. “We are in no hurry to accept new orders at the moment as the market trend is not clear now. We are building the inventory now and I think the bidding volume of major steel mills before the Spring Festival would be expective,” said the source. He added, “We bought 64t of vanadium pentoxide flake 98%min at RMB96,000/t (USD6.3/kg V) EXW D/A 180 days early last week and the cost keeps at RMB149,300/t (USD27.7/kg V).” Their last deal was made this Monday, when they sold 20t at RMB150,000/t (USD27.8/kg V). Considering the cost keeps high, he believes that prices of vanadium nitride would keep in a stalemate in the coming week.
With an annual production capacity of 2,000t, they produced 150t in November and expect the same volume in December, holding 50t of stocks now.
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