BEIJING (Asian Metal) 29 Oct 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min dropped to RMB108,000-111,000/t (USD15.3-15.7/kg) Inc-VAT EXW D/P, down by RMB7,000/t (USD1.0/kg) from last week. Suppliers are in hurry to reduce their stocks, which leads prices keep dropping. Insiders believe prices of ammonium metavanadate would free fall in the coming week.
A producer in South China claimed their ammonium metavanadate 98%min at RMB110,000/t (USD15.6/kg) Inc-VAT EXW D/P and can accept RMB108,000/t (USD15.3/kg) for firm bids, down by RMB7,000/t (USD1.0/kg) from last week. “We are facing high pressure to reduce our stocks now as few consumers would like to make purchase at the moment. Our regular client sent inquiry to me for 30t last Sunday but they only wanted to buy at no more than RMB102,000/t (USD14.4/kg),” said the source. Their last deal was made early last week, when they sold 18t at RMB115,000/t (USD16.3/kg). He believes prices would drop by RMB6,000/t (USD0.8/kg) in the coming week.
With an annual production capacity of 960t, they produced 70t in September and expect 60t in October, holding about 100t of stocks now.
A producer in Northwest China quotes their lowest quotation for ammonium metavanadate 98%min at RMB108,000/t (USD15.3/kg) Inc-VAT EXW D/P now, down by RMB8,000/t (USD1.1/kg) from last week. “At the moment, most of our clients refuse to buy at above RMB105,000/t (USD14.9/kg). Some regular buyers even only want to buy at no more than RMB102,000/t (USD14.4/kg),” said the source. Considering their cost keeps high, they are watching the market now. Their last deal was made two weeks ago, when they sold 20t at RMB122,000/t (USD17.3/kg). As the supply situation keeps loose, he believes prices of ammonium metavanadate 98%min would drop to RMB102,000/t (USD14.4/kg) in the coming week.
With an annual production capacity of 720t, they produced 50t in September and expect 40t in October, holding 20t of stocks now.
www.asianmetal.com
