BEIJING (Asian Metal) 27 May 20 – Currently, mainstream prices of Chinese ammonium metavanadate 98%min stand at RMB93,000-95,000/t (USD13.0-13.3/kg) Inc-VAT EXW D/P, unchanged from last week. Suppliers hold their inventory and are in no hurry to drop prices to promote sales. Insiders believe that market prices would stay firm in the coming week.
A producer in South China quotes their ammonium metavanadate 98%min at RMB96,000/t (USD13.5/kg) Inc-VAT EXW D/P and could accept RMB95,000/t (USD13.3/kg) for firm bids more than 20t, the same as last week. “We sold 27t at RMB95,000/t (USD13.3/kg) early last week,” said the source. They mainly supply their regular clients and they are in no hurry to accept new orders at the moment. He believes that mainstream prices of ammonium metavanadate 98%min would stay firm in the coming week.
With a production capacity of 720tpy, they produced about 500t in 2019 and about 120t so far this year. They expect to produce 50t in May, up by 30t from April, holding about 120t of stocks now, down by 80t from last month.
A consumer in North China notes the current price for ammonium metavanadate 98%min he received stands at RMB95,000/t (USD13.3/kg) Inc-VAT EXW D/P and could buy at RMB93,000/t (USD13.0/kg) for firm bids, the same as last week. “We tried to buy at RMB92,000/t (USD12.9/kg) last week but the product quality is so bad. We repurchased 30t at RMB93,000/t (USD13.0/kg) this week,” said the source. As prices of downstream vanadium products maintain the steady growth, he believes that prices of ammonium metavanadate 98%min would stay firm in the coming week.
With a consumption capacity of 600tpy, they consumed about 350t in 2019 and about 110t so far this year. They expect to consume 30t in May, unchanged from April, holding about 30t of stocks now, up by 20t from late last month.
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