BEIJING (Asian Metal) 10 Jul 20 – With an annual production capacity of 1,200t for vanadium nitride, Fujian Xinhao High-Tech Material Technology Co. LTD stopped production from early July due to the overhaul, which would last for at least one month.
“Prices of raw material vanadium pentoxide flake 98%min stand firm at RMB105,000/t (USD7.0/lb V2O5) EXW D/P during the past week. However, we can at most close deal at RMB166,000/t (USD30.9/kg V) delivered D/A 180 days for vanadium nitride, with a profit margin less than RMB1,000/t (USD0.2/kg V). So we stopped production and won’t produce in July,” a source of this company said. They kept producing in the first half month of this year and produced about 400t in total. They would resume production about one month later if prices could rebound above RMB170,000/t (USD31.6/kg V), or would delay to resume. Considering the cost stays firm, he believes that mainstream prices of vanadium nitride would edge up in the coming week.
Located in Ningde, they are one of the two vanadium nitride producers in Fujian. They produced about 700t in 2018 and about 540t in 2019. They have no stocks now.
Currently, mainstream prices for Chinese vanadium nitride stand at RMB166,000-169,000/t (USD30.9-31.4/kg V) delivered D/A 180 days, up by RMB1,000/t (USD0.2/kg V) from this Wednesday.
www.asianmetal.com
