BEIJING (Asian Metal) 20 Apr 23 – In view of the soft demand and sufficient supply, Chinese vanadium nitride market mentality maintained negative over the past week. Currently, the mainstream prices of Chinese vanadium nitride stand at RMB172,000-175,000/t (USD32.7-33.3/kg V) delivered D/A 180 days, down by RMB8,000/t (USD1.5/kg V) from late last week. Considering that the weak market mentality in spot market continues, insiders believe that the mainstream prices of Chinese vanadium nitride would drop further in the coming week.
“Buyers could easily find enough goods in spot market and we have to drop our price to reduce the increasing inventory pressure. For firm bids, we could accept RMB175,000/t (USD33.3/kg V) delivered D/A 180 days now,” said a producer in South China. They just sold 20t of vanadium nitride at this price level this Tuesday. However, they refused to sell at any prices below RMB183,000/t (USD34.8/kg V) just one week ago. Prices of vanadium pentoxide flake 98%min they inquired also moved down to the latest around RMB115,000/t (USD7.7/lb V2O5) EXW D/P. Considering that raw material prices couldn’t offer any effective support, they expect that the mainstream prices of Chinese vanadium nitride would drop by at least RMB2,000/t (USD0.4/kg V) in the coming week.
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