BEIJING (Asian Metal) 22 Apr 20 – Currently, mainstream prices of Chinese vanadium nitride stand at RMB139,000-142,000/t (USD25.5-26.0/kg V) EXW D/A 180 days, the same as last week. Though suppliers try to increase their quotation, few steel mills would like to accept. Insiders believe that mainstream prices would keep steady in the coming week.
A consumer in South China notes the current market price he received stands at RMB142,000/t (USD26.0/kg V) EXW D/A 180 days, the same as last week. “We bought 100t at RMB142,000/t (USD26.0/kg V) delivered D/A 180 days early April,” said the source. They prepare to buy another 100t at the end of this month and their target price still keep at around this price level. Considering most suppliers hold too much inventory, he believes that mainstream prices of vanadium nitride would keep steady in the coming week.
With an annual consumption capacity of 1,200t, they consumed about 1,100t in 2019 and expect the same volume in 2020. They expect to consume 90t in April, unchanged from March, holding about half a month’s consumption as regular inventory.
A trader in South China quotes their vanadium nitride at RMB146,000/t (USD26.7/kg V) delivered D/A 180 days and won’t accept any discount, unchanged from last week. “Prices for raw material vanadium pentoxide flake didn’t drop during the past month and the current quotation for vanadium nitride is our cost line,” said the source. No buyers would like to purchase according to their quotation. He received an inquiry for 20t this week but the buyer only wanted to buy at no more than RMB140,000/t (USD25.6/kg V) EXW D/P. They did not close deal at last. He believes that mainstream prices of vanadium nitride would stay firm in the coming week.
With a production capacity of 1,400tpy for vanadium nitride, they produced 1,200t in 2019. They expect to produce 80t in April, the same as last month, holding about 40t of stocks now, unchanged from last month.
www.asianmetal.com
