BEIJING (Asian Metal) 18 Jul 19 – Currently, mainstream transaction prices for Chinese ammonium metavanadate 98%min hold at RMB122,000-125,000/t (USD8.2-8.4/lb V) Inc-VAT EXW D/P, up by RMB4,000/t (USD0.3/lb V) from last week. Most producers hold back from selling and there are notably decreasing transactions concluded at low prices. Insiders believe that prices for Chinese ammonium metavanadate would remain firm in the coming week.
A producer in South China sold 20t of ammonium metavanadate 98%min at RMB123,000/t (USD8.3/lb V) Inc-VAT EXW D/P this Wednesday, up by RMB3,000/t (USD0.2/lb V) from last week. He said, “Since our production costs were high, we were not very willing to sell at this price. But considering that the buyer has been cooperating with us for a long time, we barely accepted their order.” The source added, “Now we are more inclined to holding certain stocks in hand.” The producer last sold 20t of the material at RMB120,000/t (USD8.1/lb V) early last week, and believes that prices for Chinese ammonium metavanadate would remain firm in the coming week.
With an annual production capacity of 720t of ammonium metavanadate, the source produced 50t in June and has produced 20t so far in July, holding 80t of stocks now.
A producer in Northwest China quotes ammonium metavanadate 98%min at RMB125,000/t (USD8.4/lb V) Inc-VAT EXW D/P now and can give RMB123,000/t (USD8.3/lb V) as the lowest to clients who have real intention to buy, which moves up by RMB4,000/t (USD0.3/lb V) from the lowest price last week. He said, “We sold 30t of ammonium metavanadate 98%min at RMB119,000/t (USD8.0/lb V) late last week and sold another 5t at RMB123,000/t (USD8.3/lb V) this Wednesday. They were not large-quantity orders, but indicated that downstream buyers have accepted our new price. We won’t make sales at below our current price.” As demand is stable, the source believes that prices for Chinese ammonium metavanadate would remain firm in the coming week.
With an annual production capacity of 1,000t of ammonium metavanadate, the source produced 50t in June and expects to have a similar output in July, holding 20t of stocks now.
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