BEIJING (Asian Metal) 3 Apr 20 – Zenith Steel Group Company Limited finished their purchase for vanadium nitride this Thursday, when they bought 150t at RMB142,000/t (USD26/kg V) delivered D/A 180 days.
“I learnt most steel mills bought vanadium nitride at around RMB144,000/t (USD26.4/kg V) delivered D/A 180 days but we finished the purchase at RMB142,000/t (USD26/kg V),” said the source. He added, “I received the current price of vanadium pentoxide flake 98%min at RMB94,000/t (USD6.2/lb V2O5) EXW/P, which means the cost of vanadium nitride stands firm at RMB146,000/t (USD26.7/kg V).” As most producers of vanadium nitride hold too many stocks and the market of rebar stays soft, he believes that mainstream prices of vanadium nitride would keep weak in the coming week.
Located in Changzhou, Jiangsu, they are one of the major consumers of vanadium nitride in China. With an annual consumption capacity of 2,000t, they consumed 150t in March and expect the same volume in April, holding 150t of stocks now.
At present, mainstream prices of Chinese vanadium nitride stand at RMB141,000-144,000/t (USD25.8-26.4/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from last week. Most suppliers are fighting a price war.
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