BEIJING (Asian Metal) 12 Nov 19 – Currently, mainstream prices for Chinese vanadium nitride drop to RMB142,000-145,000/t (USD26.3-26.9/kg V) EXW D/A 180 days, down by RMB10,000/t (USD1.9/kg V) from last week. As the cost keeps firm, most producers refuse to drop their prices to absorb new orders. Insiders believe prices of vanadium nitride would stay steady in the coming week.
A producer in South China quotes their vanadium nitride at RMB145,000/t (USD26.9/kg V) EXW D/A 180 days and can accept RMB142,000/t (USD26.3/kg V) for firm bids, down by RMB10,000/t (USD1.9/kg V) from last week. “The current price of raw material vanadium pentoxide flake 98%min I received stands at RMB95,000/t (USD6.3/lb V2O5), unchanged from last week. Considering the cost has touched the bottom, I believe prices of vanadium nitride would keep steady in the coming week,” said the source. Their last deal was made early last week, when they sold 20t at RMB142,000/t (USD26.3/kg V).
With an annual production capacity of 2,000t, they produced 150t in October and expect 120t in November, holding 40t of stocks now.
A producer in North China claimed their quotation for vanadium nitride at RMB147,000/t (USD27.2/kg V) EXW D/A 180 days and can accept RMB145,000/t (USD26.9/kg V) for firm bids, down by RMB8,000/t (USD1.5/kg V) from early last week. “Our steel mill client refuses to buy at higher prices now as the market of rebar keeps soft. Our last deal was made last Friday, when we sold 40t at RMB145,000/t (USD26.9/kg V),” said the source. He added, “Major producers of vanadium pentoxide flake 98%min refuse to quotes now and the market of raw material keeps quiet. It’s hard to buy raw material at less than RMB96,000/t (USD6.3/lb V2O5) at the moment.” He believes prices of vanadium nitride would stay firm in the coming week.
With an annual production capacity of 2,400t, they produced 180t in October and expect the same volume in November, holding 60t of stocks now.
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