BEIJING (Asian Metal) 26 May 20 – Currently, mainstream prices of Chinese vanadium nitride stand at RMB152,000-155,000/t (USD27.7-28.2/kg V) EXW D/A 180 days, unchanged from last week. Market inventory reduced sharply during the past two months and few suppliers would like to drop prices to promote sales now. Insiders believe that mainstream prices of vanadium nitride would stay firm in the coming week.
A producer in South China quotes their vanadium nitride at RMB152,000/t (USD27.7/kg V) EXW D/P and would not accept any orders below this price level, unchanged from last week. “We sold 20t at RMB152,000/t (USD27.7/kg V) to our regular clients early last week and we could not accept any orders for immediate shipment before 15 June,” said the source. Last week, he expected that prices would touch RMB160,000/t (USD29.1/kg V) EXW D/A 180 days at the end of May. However, as bidding prices of major steel mills only followed up to RMB154,000/t (USD28.0/kg V) delivered D/A 180 days so far this month, he believes that prices of vanadium nitride would stay firm in the coming week.
With a production capacity of 2,400tpy, they produced about 1,440t in 2019 and about 450t so far this year. They didn’t produce in April and expect to produce about 120t in May, holding no stocks now, down by 200t from last month.
A consumer in South China notes the current prices for vanadium nitride he received stand at around RMB154,000/t (USD28.0/kg V) delivered D/A 180 days, unchanged from last week. “We bought 50t at RMB152,000/t (USD27.7/kg V) last Wednesday,” said the source. Though suppliers still try to increase the quotation, considering major steel mills closed the deal for June demand at RMB154,000/t (USD28.0/kg V), 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 about 100t in May, up by 10t from April, holding about half a month’s consumption as regular inventory.
www.asianmetal.com
