BEIJING (Asian Metal) 10 Apr 20 – Currently, mainstream prices for Chinese vanadium nitride drop to RMB140,000-143,000/t (USD25.8-26.3/kg V) EXW D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from this Tuesday. Most suppliers hold high level inventory and they have to drop their quotation to absorb orders. Insiders believe that mainstream prices of vanadium nitride would stay weak in the coming week.
A producer in Shannxi notes their vanadium nitride at RMB140,000/t (USD25.8/kg V) EXW D/P and they could accept RMB139,000/t (USD25.6/kg V) for firm bids more than 10t, down by RMB1,000/t (USD0.2/kg V) from last week. “We just sold 20t at RMB139,000/t (USD25.6/kg V) yesterday. To be frank, this price level is lower than our cost line,” said the source. They are in hurry to reduce their inventory pressure now. He believes that prices of vanadium nitride would stay weak in the coming week.
With a production capacity of 10,000t, they only produce by one production line now. They produced 250t in March and expect the same volume in April, holding about 100t of stocks now.
A producer in Hubei quotes their vanadium nitride at RMB143,000/t (USD26.3/kg V) EXW D/A 180 days and they could accept RMB140,000/t (USD25.8/kg V) EXW D/P for firm bids, down by RMB1,000/t (USD0.2/kg V) from last week. “The current price for vanadium pentoxide flake 98%min stands firm at RMB93,000/t (USD6.1/lb V2O5) EXW D/P and our cost keeps at RMB145,000/t (USD26.7/kg V). However, in order to reduce our stocks, we have to drop price to promote sales,” said the source. Their last deal was made two weeks ago, when they sold 30t at RMB144,000/t (USD26.5/kg V) delivered D/A 180 days. He believes that mainstream prices of vanadium nitride would stay weak in the coming week.
With an annual production capacity of 2,000t, they expect to produce 70t in April, up by 30t from March, holding about 20t of stocks at the moment.
www.asianmetal.com
