BEIJING (Asian Metal) 8 May 20 – With an annual production capacity of 2,400t for vanadium nitride, Chongyang Jiufu Technology Co. LTD would resume production from this Friday after a month of furnace maintenance, a source told Asian Metal.
“We were busy reducing the history stocks in the whole April and didn’t produce any ton during the past month. We sold about 200t of vanadium nitride in total after the Spring Festival and we built enough raw material stock by this money,” said the source. They bought about RMB10,000,000 (USD1.41 million) of ammonium metavanadate 98%min in late April and the price stood at RMB90,000/t (USD12.7/kg). They would use these materials to produce new vanadium nitride from this Friday. They quote at RMB148,000/t (USD27.1/kg V) EXW D/A 180 days at the moment.
Located in Xianning, they are one of nine producers for vanadium nitride in Hubei. They could produce about 120tpm in normal, holding no stocks at the moment.
This Thursday, mainstream prices of Chinese vanadium nitride stand at RMB145,000-148,000/t (USD26.6-27.1/kg V) EXW D/A 180 days, unchanged from last week. Most suppliers are trying to increase their quotation further due to the high cost of raw materials.
www.asianmetal.com
