BEIJING (Asian Metal) 16 Aug 19 – Zhuhai Yueyufeng Steel Co., Ltd prepares to purchase vanadium nitride from August 20.
“We are going to buy vanadium nitride next Tuesday for 100t. I heard prices are dropping now and one of our regular suppliers offers their quotation at RMB230,000/t (USD42.4/kg V). However, I believe we can close deal at no more than RMB220,000/t (USD40.6/kg V),” the Purchase Manager of this company told Asian Metal. He added, “I heard the current dealing price for vanadium pentoxide 98%min has droppe to RMB135,000/t (USD8.9/lb V2O5), which means the cost of vanadium nitride stands at RMB210,000/t (USD38.7/kg V).” He believes prices of vanadium nitride would drop to RMB210,000/t (USD38.7/kg V) by the end of this month.
Located in Zhuhai Guangdong, the company can consume 80-100t vanadium nitride every month, they bought 90t in July and plans to buy 100t in August. They keep the inventory for one month’s using.
Currently, mainstream prices for Chinese vanadium nitride stand at RMB225,000-228,000/t (USD41.5-42.1/kg V) EXW D/A 180 days, down by RMB22,000/t (USD4.1/kg V) from last week.
www.asianmetal.com
