BEIJING (Asian Metal) 6 Mar 20 – According to Asian Metal, there are 26 ammonium metavanadate producers in China and more than 20 are out of production at the moment because of the virus. Currently, mainstream prices of Chinese ammonium metavanadate 98%min stand at RMB90,000-93,000/t (USD13.0-13.4/kg) Inc-VAT EXW D/P, the same as last week. The supply and demand both keep weak. Insiders believe that prices would stay steady in the coming week.
A producer in South China quotes their ammonium metavanadate 98%min at RMB95,000/t (USD13.7/kg) Inc-VAT EXW D/P and they can accept RMB93,000/t (USD13.4/kg) for firm bids, unchanged from last week. “We just resumed production this Monday and we are facing high pressure to reduce our stocks now as most consumers are still out of market now,” said the source. Their last deal was made late January, when they sold 30t at RMB95,000/t (USD13.7/kg). Considering the demand stays soft, he believes that prices of ammonium metavanadate 98%min would keep weak in the coming week.
With an annual production capacity of 1,000t, they produced 80t in January and didn’t produce in February. They plans to produce 80t in March, holding 200t of stocks now.
A producer in North China quotes their ammonium metavanadate 98%min at RMB95,000/t (USD13.7/kg) EXW D/P and they can accept RMB93,000/t (USD13.4/kg) for fim bids, unchanged from last week. “We have been out of production for one month and we prepare to resume production at the end of this month. We are selling the stocks at the moment but we have not received any inquiries during the past month,” said the source. Their last deal was made late January, when they sold 30t at RMB92,000/t (USD13.3/kg). Considering few consumers would like to buy and the history stock stays at high level, he believes that prices of ammonium metavanadate would keep weak in the coming week.
With an annual production capacity of 1,200t, they produced 50t in January and would be out of production during February and March, holding 50t of stocks now.
www.asianmetal.com
