BEIJING (Asian Metal) 8 Nov 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB90,000-93,000/t (USD12.9-13.3/kg) Inc-VAT EXW D/P, unchanged from early this week. Suppliers refuse to drop their quotation to absorb orders and the market stays in a stalemate. Insiders believe prices have touched the bottom and would keep steady in the coming week.
A producer in North China quotes their ammonium metavanadate 98%min at RMB95,000/t (USD13.6/kg) Inc-VAT EXW D/P and can accept RMB93,000/t (USD13.3/kg) for firm bids, unchanged from this Monday. “We are building stocks now and we won’t drop our quotation to absorb orders. We can wait patiently and our target price stays at RMB125,000/t (USD17.9/kg),” said the source. He added, “I received an inquiry this Wednesday for 30t but the buyer only wanted to buy at no more than RMB90,000/t (USD12.9/kg).” Their last deal was made two weeks ago, when they sold 30t at RMB116,000/t (USD16.6/kg). He believes prices of ammonium metavanadate 98%min would keep steady in the coming week.
With an annual production capacity of 2,000t, they produced 60t in October and expect the same volume in November, holding about 800t of stocks now.
A consumer in Northeast China claimed the lowest price for ammonium metavanadate 98%min he received keeps at RMB90,000/t (USD12.9/kg) Inc-VAT EXW D/P, unchanged from this Monday. “We buy ammonium metavanadate 98%min from our inner group and we calculate according to market prices. Our last deal was made this Wednesday, when we bought 20t at RMB90,000/t (USD12.9/kg),” said the source. Considering most suppliers refuse to drop their quotation to promote sales, he believes the market of ammonium metavanadate would stay in a stalemate in the coming week.
With an annual consumption capacity of 400t, they consumed 360t in 2018 and have consumed 300t this year. They expect to consume 30t in November, the same with October. They have 15t of stocks now, unchanged from last month.
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