BEIJING (Asian Metal) 7 Nov 19 – With an annual production capacity of 2,100t for ammonium metavanadate, Chaoyang Xinming Vanadium Titanium Technology Co. LTD prepares to stop production for overhaul from the end of November. The maintenance period expects to be 45 days.
“We use import vanadium ore from South Africa as raw material and the cost keeps high at RMB100,000/t (USD14.3/kg). However, the current dealing prices for ammonium metavanadate 98%min have dropped to about RMB92,000/t (USD13.1/kg) EXW D/P. It’s hard to close deal at higher prices and we are facing high pressure to reduce our inventory level now,” said the source. They prepare to overhaul for one and a half months from the end of this month. They are watching the market now and they are in no hurry to sell their products at low price level now.
Located in Chaoyang Liaoning, they are the biggest producer in local area. They produced 160t in October and expect 120t in November, holding about 600t of stocks now.
Currently, mainstream prices for Chinese ammonium metavanadate 80%min drop to RMB89,000-92000/t (USD12.7-13.1/kg) Inc-VAT EXW D/P, down by RMB1,000/t (USD0.1/kg) from this Wednesday.
www.asianmetal.com
