BEIJING (Asian Metal) 12 May 20 – With an annual production of 1,200t for ammonium metavanadate 98%min, West Mining Vanadium Technology Co., ltd. started to produce ammonium metavanadate 98% according to their own stone-coal resources from 8 May, a source told Asian Metal.
“We started to produce ammonium metavanadate 98%min from last Friday according to our own stone-coal resources of West Mining Group,” said the source of this company. When the second phase goes into production, their total production for ammonium metavanadate 98%min would increase to 3,850tpy. At the moment, they could produce about 100tpm of ammonium metavanadate 98%min. They are building the inventory now and have not started to sell yet.
Located in the north of Gansu, they are the only producer in Gansu province who is producing now. According to Asian Metal, the company has two shareholders, West Mining Co., ltd. holds 84.83% and Beijing Huatai Runda Energy Saving Technology Co., ltd. holds 15.17%.
This Monday, mainstream prices of Chinese ammonium metavanadate 98%min stand at RMB92,000-94,000/t (USD13-13.3/kg) Inc-VAT EXW D/P, up by RMB500/t (USD0.1/kg) from last week. Most suppliers are trying to increase their quotation further due to the thin profit margin.
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