BEIJING (Asian Metal) 23 Mar 20 – With an annual production capacity of 600t for ammonium metavanadate 98%min, Shandong Aluminum Corporation Special Materials Factory started to produce and sell from March 20.
“We just resumed production for ammonium metavanadate last Friday and we are looking for buyers now. We face high inventory pressure because we didn’t close any deals during the past two months due to the virus,” said the source. Their last deal was made in the middle of January, when they sold 70t and the buyer just picked up the goods late last week. They quote at RMB90,000/t (USD12.7/kg) Inc-VAT EXW D/P at the moment.
Located in Zibo, they are the only one producer in Shandong. They produced 360t in 2019, holding 80t of stocks at the moment.
Currently, mainstream prices of Chinese ammonium metavanadate 98%min stand at RM89,000-92,000/t (USD12.5-13.0/kg) Inc-VAT EXW D/P, unchanged from last week. Downstream consumers only make purchase according to urgent need and the market demand stays soft now.
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