BEIJING (Asian Metal) 14 Jan 20 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min keep at RMB88,000-91,000/t (USD12.8-13.2/kg) Inc-VAT EXW D/P, the same as last week. Most producers hold high inventory level and the supply situation keeps loose. End consumers only make purchase according to urgent need and the demand stays soft. Insiders believe that prices of ammonium metavanadate would stay weak in the coming week.
A producer in South China quoted their ammonium metavanadate 98%min at RMB92,000/t (USD13.3/kg) Inc-VAT EXW D/P and they can accept RMB91,000/t (USD13.2/kg) for firm bids, the same as last week. “I received an inquiry last Sunday for 10t but the buyer only wanted to buy at no more than RMB90,000/t (USD13.0/kg). Considering they can pay 100% upfront, we accepted this order,” said the source. He added, “Our regular clients are in no hurry to make purchase now and they are waiting for lower prices level. If prices keep dropping, we will hold the stock and stop selling.” He believes that prices of ammonium metavanadate would stay steady in the coming week.
With an annual production capacity of 1,200t, they produced 70t in last December and expect 40t in January for lack of orders, holding 100t of stocks now.
A trader in South China said the current price for ammonium metavanadate 98%min they can accept keeps at RMB91,000/t (USD13.2/kg), the same as last week. “Our cost kept high and we are in no hurry to sell now. During the past week, all the inquiries I received kept at no more than RMB90,000/t (USD13.0/kg),” said the source. He added, “To be frank, our cost stands at RMB95,000/t (USD13.8/kg) and we will lost RMB4,000 (USD0.6/kg) pet ton. The more we sell, the more we lost.” Their last deal was made early last week, when they sold 20t at RMB91,000/t (USD13.2/kg). Considering the demand from end consumers stay soft, he believes that prices of ammonium metavanadate would be steady in the coming week.
With a regular trading volume of 50t, they sold 600t in 2018 and 550t in 2019. They sold 50t in last December and expect 30t in January, holding 50t of stocks at the moment, up by 20t from last month.
www.asianmetal.com
