BEIJING (Asian Metal) 4 Dec 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB91,000-94,000/t (USD12.9-13.3/kg) Inc-VAT EXW D/P, down by RMB2,000/t (USD0.3/kg) from last week. Suppliers are holding their stocks and are in no hurry to sell. At the same time, consumers only make purchase according to urgent need. Considering the market keeps in a stalemate, insiders believe prices of ammonium metavanadate would keep weak in the coming week.
A producer in North China quotes their ammonium metavanadate 98%min at RMB95,000/t (USD13.5/kg) Inc-VAT EXW D/P and can accept RMB94,000/t (USD13.3/kg) for firm bids, down by RMB1,000/t (USD0.1/kg) from last week. “Our last deal was made half a month ago, when we sold 30t at RMB94,000/t (USD13.3/kg). We won’t sell below this price level and would rather hold the inventory as our cost keeps high,” said the source. He added, “We buy vanadium mineral as raw materials and the current quotation almost equals our cost. We won’t sell any ton if prices keep at the current level.” He believes prices of ammonium metavanadate would stay steady in the coming week.
With an annual production capacity of 960t, they didn’t produce in November for overhaul and expect to produce 60t in December, holding 60t of stocks now.
A consumer in North China claimed the lowest price for ammonium metavanadate 98%min he received stays at RMB92,000/t (USD13.0/kg) Inc-VAT EXW D/P now, down by RMB2,000/t (USD0.3/kg) from last week. “I heard from our regular supplier that they have at least 800t of stocks but refuse to sell as prices keep dropping in the past week,” said the source. He added, “We plan to buy 20t at no more than RMB90,000/t (USD12.8/kg) within this week but no suppliers would like to accept.” Their last deal was made two weeks ago, when they bought 20t at RMB95,000/t (USD13.5/kg). Considering the market keeps quiet at the moment, he believes prices of ammonium metavanadate 98%min would stay weak in the coming week.
With an annual consumption capacity of 1,000t, they consumed 850t in 2018 and have consumed 700t so far this year. They expect to consume 40t in December, down by 20t from November, holding 20t of stocks now, the same with last month.
www.asianmetal.com
