BEIJING (Asian Metal) 15 Jan 20 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB145,000-148,000/t (USD27.4-28.0/kg V) EXW D/A 180 days, the same as last week. Most steel mills have finished their purchase before the Spring Festival and the demand keeps soft. At the same time, the physical distribution would stop from this week. Insiders believe that the market would be quiet in the coming week.
A consumer in South China noted the current price for vanadium nitride he received stands at RMB148,000/t (USD28.0/kg V) Delivered D/A 180 days and can buy at RMB147,500/t (USD27.9/kg V), unchanged from last week. “Our last deal was made two weeks ago, when we bought 150t at RMB147,500/t (USD27.9/kg V). We won’t make purchase again before February 20,” said the source. He added, “The physical distribution would stop from this week and suppliers would stop their quotation for immediate shipment soon.” He believes that prices of vanadium nitride would stay firm in the coming week.
With an annual consumption capacity of 2,000t, they consumed 1,680t in 2019, down by 120t from 2018. They expect to consume 150t in January, unchanged from last December, holding 280t of stocks now, up by 140t from last month.
A consumer in Northwest China noted the current price for vanadium nitride he received stands at RMB148,000/t (USD28.0/kg V) Delivered D/A 180 days, the same as last week. “We bought 40t at this price level and the goods would arrive at our stock this Wednesday,” said the source. He added, “We prepare to buy another 40t, which would deliver to us on February 20 and the current price we received stands at RMB133,185/t (USD25.2/kg V) Ex-VAT EXW D/A 180 days. We will pay the supplier 50 days later when we received the invoice, so this price level is higher than nomal for about RMB2,000/t (USD0.4/kg V).” Considering the physical distribution would stop soon, he believes that prices of vanadium nitride would keep steady in the coming week.
With an annual consumption capacity of 720t, they consumed 600t in 2019, up by 50t from 2018. They expect to consume 40t in January, the same as last December, holding 50t of stocks now, unchanged from last month.
www.asianmetal.com
