BEIJING (Asian Metal) 28 Apr 20 – Currently, mainstream prices of Chinese vanadium nitride stand at RMB145,000-148,000/t (USD26.6-27.1/kg) EXW D/A 180 days, up by RMB3,000/t (USD0.6/kg) from last week. As prices of raw material vanadium pentoxide flake 98%min stayed firm during the past month, most producers of vanadium nitride increased their quotation to reduce their losses. However, steel mills’ bidding prices follow up the quotation slowly. Insiders believe that mainstream prices of vanadium nitride would stay in a stalemate in the coming week.
A trader in South China said, “We bought 30t at RMB142,000/t (USD26.0/kg V) EXW D/P last week and we would like to increase by RMB1,000/t (USD0.2/kg V) to sell out all if anyone who would like to buy.” According to the dealing prices of vanadium nitride, he thinks that prices of raw material vanadium pentoxide flake 98%min would drop by RMB4,500/t (USD0.3/lb V2O5) to RMB90,000/t (USD5.8/lb V2O5) EXW D/P. However, major suppliers of vanadium pentoxide flake didn’t drop their quotation anymore during the past month. Considering the cost keeps firm, he believes that mainstream prices of vanadium nitride would stay firm in the coming week.
With a regular trading volume of 50tpm, they sold about 550t in 2019 and about 150t so far this year. They expect to sell about 50t this month, unchanged from last month, holding about 50t of stocks, up by 30t from March.
A producer in Northwest China quotes their vanadium nitride at RMB148,000/t (USD27.1/kg) delivered D/A and could accept RMB146,000/t (USD26.8/kg V) for firm bids, up by RMB4,000/t (USD0.7/kg V) from last week. “We start to increase our quotation from last Tuesday and we sold 20t at RMB142,000/t (USD26.0/kg V) EXW D/P late last week,” said the source. As downstream rebar market stays soft, their regular steel mill clients refuse to buy at a higher price level than their quotation. At the same time, their cost stays firm. He believes that mainstream prices of vanadium nitride would stay in a stalemate in the coming week.
With an annual production capacity of 3,000t, they produced about 1,500t in 2019 and about 520t in the first quarter this year. They expect to produce 180t in April, unchanged from March, holding about 60t of stocks now, up by 10t from last month.
www.asianmetal.com
