BEIJING (Asian Metal) 24 Mar 20 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB142,000-145,000/t (USD26.0-26.6/kg V) EXW D/A 180 days, unchanged from last week. Consumers only make purchase according to urgent need and the market stays in a stalemate. As major producers of vanadium pentoxide flake refuse to drop their quotation, insiders believe that mainstream prices for vanadium nitride would keep steady in the coming week.
A consumer in South China quotes the current price for vanadium nitride he received stands at RMB145,000/t (USD26.6/kg V) delivered D/A 180 days and they can buy at RMB144,800/t (USD26.5/kg V) for firm bids, the same as last week. “Our last deal was made late last week, when we bought 50t at RMB144,800/t (USD26.5/kg V),” said the source. He added, “The current price for vanadium pentoxide flake 98%min stands firm at RMB96,000/t (USD6.3/lb V2O5) EXW D/A 180 days, unchanged from last week.” He believes that prices of vanadium nitride would keep steady in the coming week.
With an annual consumption capacity of 1,800t, they consumed 1,680t in 2019. They expect to consume 100t in March, down by 40t from February, holding 100t of stocks now.
Another consumer in South China claimes the current price for vanadium nitride he received stays at RMB145,000/t (USD26.6/kg V) delivered D/A 180 days, the same as last week. “Our last deal was made early last week, when we bought 20t at RMB145,000/t (USD26.6/kg V),” said the source. He added, “Some traders would like to sell at RMB142,000/t (USD26.0/kg V) for small volume. I think it’s a dropping signal.” He believes that mainstream prices of vanadium nitride would stay weak in the coming week.
With an annual consumption capacity of 200t, they consumed 150t in 2019. They expect to consume 15t in March, up by 5t from February, holding 20t of stocks now.
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