Date: Dec 6, 2018
BEIJING (Asian Metal) 6 Dec 18 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min drop to RMB327,000-330,000/t (USD22.07-22.27/lb V) Inc-VAT EXW D/P, down by RMB71,000/t (USD4.79/lb V) from early last week. The demand keeps weak and most producers are facing huge sales pressure. Insiders believe prices would keep dropping in the coming week.
A producer in Northwest China quotes ammonium metavanadate 98%min at RMB330,000/t (USD22.27/lb V) at present, down by RMB70,000/t (USD4.72/lb V) from last week. “Discouraged by the dropping trend, we didn’t make any deals in the past two weeks. I think prices would keep dropping during the whole December,” said the source. Their last deal was made in the middle of November, when they sold 30t at RMB420,000/t (USD28.34/kg). He believes prices would drop to RMB300,000/t (USD20.25/kg) in the coming week.
