BEIJING (Asian Metal) 16 May 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min are RMB124,000-127,000/t (USD8.3-8.6/lb V) Inc-VAT EXW D/P, down by RMB13,000/t (USD0.9/lb V) from last week. As demand keeps weak, some producers are in hurry to reduce their stock, which lead prices free fall. Insiders believe prices of this material would keep dropping in the coming week.
A producer in North China quotes ammonium metavanadate 98%min at RMB130,000/t (USD8.8/lb V) Inc-VAT EXW D/P now and can accept RMB127,000/t (USD8.6/lb V) for orders more than 10t, down by RMB13,000/t (USD8.8/lb V) from last week. “I didn’t receive any inquiries in the past week and I heard some producers have dropped their quotation to RMB113,000/t (USD7.6/lb V) Ex-VAT EXW D/P now. In order to reduce stock, I can also accept this price level,” said the source. Their last deal was made early last week, when they sold 15t at RMB140,000/t (USD9.4/lb V) Inc-VAT EXW D/P. Considering the inquiries are rare to see, he believes prices of this material would drop by RMB3,000/t (USD0.2/lb V) in the coming week.
With an annual production capacity of 840t for ammonium metavanadate, the producer produced 60t in April and expects 50t in May for lack of orders, holding 10t of stocks now.
A producer in South China quotes ammonium metavanadate 98%min at RMB125,000/t (USD8.4/lb V) Inc-VAT EXW D/P now and can accept RMB124,000/t (USD8.3/lb V) for firm bids, down by RMB15,000/t (USD1.0/lb V) from last week. “I heard Kungang’s bidding price for vanadium nitride has dropped to RMB200,000/t (USD37.8/kg V), down by RMB46,200/t (USD8.7/kg V) from last month, which would make a great pressure to vanadium raw material market,” said the source. He added, “One of our regular clients sent inquiry to me early this week, they just want to buy at no more than RMB120,000/t (USD8.1/lb V).” Their last deal was made early last week, when they sold 30t at RMB138,000/t (USD9.3/lb V). He believes mainstream prices of this material would drop to RMB120,000/t (USD8.1/lb V) in the coming week.
With an annual production capacity of 2,400t for ammonium metavanadate, the producer produced 100 in April and expects the same volume in May, holding 20t of stock now.
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