BEIJING (Asian Metal) 14 May 20 – Currently, mainstream prices of Chinese vanadium nitride stand at RMB149,000-152,000/t (USD27.3-27.8/kg V) EXW D/A 180 days, up by RMB4,000/t (USD0.7/kg V) from last week. As most producers bought raw material vanadium pentoxide flake 98%min at RMB96,000/t (USD6.3/kg V) EXW D/A 180 day, they have to increase their quotation above their cost line. Insiders believe that mainstream prices of vanadium nitride would stay firm in the coming week.
A producer in North China quotes their vanadium nitride at RMB150,000/t (USD27.5/kg V) EXW D/P and could accept RMB148,000/t (USD27.1/kg V) for firm bids more than 20t, up by RMB4,000/t (USD0.7/kg V) from last week. “We sold 30t to one of our regular steel mill clients at RMB150,000/t (USD27.5/kg V) delivered D/A 180 days this Monday,” said the source. They have not closed any deals above this price level yet. Considering prices of their raw material vanadium pentoxide flake 98%min stand high at RMB96,000/t (USD6.3/lb V2O5) EXW D/A 180 days, he believes that prices of vanadium nitride would stay firm in the coming week.
With a production capacity of 2,400tpy, they produced about 2,000t in 2019 and expect the same volume in 2020. They expect to produce about 150t in May, unchanged from April, holding about 60t of regular stocks now.
A producer in Northeast China quotes their vanadium nitride at RMB148,000/t (USD27.1/kg V) EXW D/P and would not accept any discount now, up by RMB3,000/t (USD0.5/kg V) from last week. “Though some steel mills closed deals at RMB145,000/t (USD26.5/kg V), we won’t refer to these bidding prices and we would only quote according to our cost,” said the source. They bought 64t of vanadium pentoxide flake 98%min at RMB94,500/t (USD6.2/lb V2O5) EXW D/P about two weeks ago. Supported by the high cost, he believes that prices of vanadium nitride would stay firm in the coming week.
With an annual production capacity of 1,000t, they produced about 60t in April and expect 80t in May, holding about 100t of stocks now.
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