BEIJING (Asian Metal) 21 Aug 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min dropped to RMB130,000-133,000/t (USD18.4-18.8/kg) Inc-VAT EXW D/P, down by RMB10,000/t (USD1.4/kg) from last week. As bidding prices for vanadium products from steel mills keep dropping, prices of ammonium metavanadate are loosing its market support. Insiders believe prices of this material would edge down in the coming week.
A producer in Henan quotes their ammonium metavanadate 98%min at RMB135,000/t (USD19.1/kg) Inc-VAT EXW D/P now and can accept RMB133,000/t (USD18.8/kg) for firm bids, down by RMB10,000/t (USD1.4/kg) from last week. “I received an inquiry from one of our regular clients for 20t this Tuesday. However, they only want to buy at no more than RMB130,000/t (USD18.4/kg) and I refused him directly,” said the source. Their last deal was made two weeks ago, when they sold 32t at RMB145,000/t (USD20.5/kg). They are in no hurry to accept new orders as they are building stock now. Considering prices of downstream vanadium products keep falling, he believes prices of ammonium metavanadate 98%min would reduce to RMB132,000/t (USD18.7/kg) in the coming week.
With an annual production capacity of 1,000t for ammonium metavanadate, the producer produced 70t in July and expect the same volume in August, holding 30t of stocks now.
A producer in Hubei claimed their quotation for ammonium metavanadate 98%min at RMB135,000/t (USD19.1/kg) EXW D/P now and can accept RMB133,000/t (USD18.8/kg), down by RMB12,000/t (USD1.7/kg) from last week. “Our last deal was made this Monday, when we sold 15t at RMB133,000/t (USD18.8/kg). For firm bids, we would insist on this price level this week as we have no stock pressure at the moment,” said the source. Considering inquiries from end users are rare to see, he believes prices of ammonium metavanadate 98%min would edge down by RMB1,000/t (USD0.1/kg) in the coming week.
With an annual production capacity of 1,200t for ammonium metavanadate, they produced 80t in July and expect the same in August. They have only 10t of stocks now.
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