BEIJING (Asian Metal) 25 Oct 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB115,000-118,000/t (USD16.3-16.7/kg) Inc-VAT EXW D/P, down by RMB3,000/t (USD0.4/kg) from last week. Consumers only make purchase according to urgent need and demand keeps weak. Considering prices of downstream vanadium products drop again and again, insiders believe prices of ammonium metavanadate would keep declining in the coming week.
A producer in Northeast China quoted their ammonium metavanadate 98%min at RMB120,000/t (USD17.0/kg) Inc-VAT EXW D/P and can accept RMB118,000/t (USD16.7/kg) for firm bids, down by RMB2,000/t (USD0.3/kg) from last week. “I received an inquiry for 30t this Tuesday but the buyer only wanted to buy at no more than RMB118,000/t (USD16.7/kg). In order to reduce the inventory, we accept this order at last,” said the source. He added, “Inquiries from new clients are hard to see now.” He believes prices of ammonium metavanadate 98%min would drop by RMB2,000/t (USD0.3/kg) in the coming week.
With an annual production capacity of 1,200t, they produced 60t in September and expect 40t in October, holding about 600t of stocks now.
A producer in South China noted their price for ammonium metavanadate 98%min at RMB118,000/t (USD16.7/kg) Inc-VAT EXW D/P and can accept RMB116,000/t (USD16.4/kg) for firm bids, down by RMB4,000/t (USD0.6/kg) from last week. “I received an inquiry this Wednesday for 20t and the buyer only can accept at no more than RMB115,000/t (USD16.3/kg). We refused them as this price level is nearly our cost line,” said the source. They are watching the market and in no hurry to accept new orders at the moment. Their last deal was made early last week, when they sold 20t at RMB120,000/t (USD17.0/kg). Considering bidding prices for vanadium nitride keep dropping, he believes prices of ammonium metavanadate 98%min would drop to RMB115,000/t (USD16.3/kg) in the coming week.
With an annual production capacity of 1,000t, they produced 70t in September and expect 50t in October, holding 20t of stocks now.
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