BEIJING (Asian Metal) 7 Jan 20 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB88,000-91,000/t (USD12.6-13.1/kg) Inc-VAT EXW D/P, unchanged from last week. Consumers delay to make purchase and the demand stays soft. Insiders believe that prices of ammonium metavanadate would keep weak in the coming week.
A producer in North China quotes their ammonium metavanadate 98%min at RMB91,000/t (USD13.1/kg) Inc-VAT EXW D/P and they can accept RMB90,000/t (USD12.9/kg) for firm bids, the same as last week. “Our last deal was made late last week, when we sold 10t at RMB90,000/t (USD12.9/kg),” said the source. He added, “I received an inquiry for 20t this Monday. However, the buyer only wanted to buy at no more than RMB88,000/t (USD12.6/kg).” Considering inquiries from their regular clients are rare to see, he believes that prices of ammonium metavanadate would stay weak in the coming week.
With an annual production capacity of 1,200t, they produced 50t in December and expect the same volume in January, holding 30t of stocks now.
A consumer in South China noted the current price for ammonium metavanadate 98%min he received stands at RMB90,000/t (USD12.9/kg) Inc-VAT EXW D/P, unchanged from last week. “We prepare to buy 30t before the Spring Festival. We are in no hurry to make purchase at the moment. If prices can drop to RMB88,000/t (USD12.6/kg), we will consider to buy 50t,” said the source. Their last deal was made two weeks ago, when they bought 15t at RMB91,000/t (USD13.1/kg) for urgent need. Considering most producers hold high inventory level, he believes that prices would keep weak in the coming week.
With an annual consumption capacity of 720t, they consumed 700t in 2018 and 600t in 2019. They expect to consume 30t in January, down by 20t from December. They have 10t of stocks now, down by 30t from last month.
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