BEIJING (Asian Metal) 10 May 22 – Due to the soft demand from terminal users caused by COVID-19 control, Chinese vanadium nitride producers faced increasing inventory pressure and market mentality stayed negative during the past week. At present, the mainstream prices of Chinese vanadium nitride stand at RMB200,000-203,000/t (USD39.2-39.8/kg V) delivered D/A 180 days, down by RMB2,000/t (USD0.4/kg V) from late last week. As no signs show that steel mills’ demand could rise, insiders believe that the mainstream prices of Chinese vanadium nitride would decline further in the coming week.
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