Prices of vanadium nitride (VN) in China dipped further to reach a 35-month low as of March 31, as domestic steel mills continued to cut their bidding prices amid higher supplies of VN from smelters, according to market sources on Wednesday. China’s integrated steel mills usually use VN in their converters, Mysteel Global noted.
As ofMarch 31, China’s national VN price averaged Yuan 144,000/tonne ($20,281.4/t)including 13% VAT, a new low since April 2017 and down by another Yuan2,500/t or1.7% on week, according to Mysteel’sdatabase. “The price of VN fell below the smelters’ average production cost of Yuan 146,000/t,”a Shanghai-based analyst commented. He attributed the continuous
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