BEIJING (Asian Metal) 27 Aug 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB122,000-125,000/t (USD17.1-17.5/kg) Inc-VAT EXW D/P, down by RMB8,000/t (USD1.1/kg) from last week. As negative market factors emerge endlessly, insiders believe prices of ammonium metavanadate would edge down in the coming week.
A producer in Hubei quotes their ammonium metavanadate 98%min at RMB125,000/t (USD17.5/kg) Inc-VAT EXW D/P now and can accept RMB124,000/t (USD17.4/kg) for firm bids, down by RMB8,000/t (USD1.1/kg) from last week. “We just sold 10t at RMB124,000/t (USD17.4/kg) last Friday and our last deal was made one week ago, when we sold 20t at RMB132,000/t (USD18.5/kg),” said the source. He added, “The trade war between China and the United States is escalating, which would surely bring negative effects on Chinese vanadium market. Our regular clients just want to buy at no more than RMB120,000/t (USD16.8/kg) now.” He believes prices of ammonium metavanadate 98%min would drop to RMB120,000/t (USD16.8/kg) in the coming week.
With an annual production capacity of 1,200t for ammonium metavanadate, the producer produced 90t in July and expects 80t in August, holding 40t of stocks now.
A consumer in Hunan conveyed their last deal was made this Monday, when they bought 20t ammonium metavanadate 98%min at RMB122,000/t (USD17.1/kg) EXW D/P, down by RMB10,000/t (USD1.4/kg) from last week. “Prices of downstream rebar keep dropping and steel mills refuse to purchase products at high price level. I heard bidding prices for vanadium nitride of most steel mills have dropped to RMB195,000/t (USD35.4/kg V) delivered D/A 180 days, down by RMB60,000/t (USD10.9/kg V) from early August,” said the source. Considering the market of rebar keeps soft, he believes prices of ammonium metavanadate 98%min would reduce to RMB115,000/t (USD16.1/kg) in the coming week.
With an annual consumption capacity of 600t for ammonium metavanadate, they consumed 40t in July and expect the same volume in August. They are holding 30t in hand at the moment
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