BEIJING (Asian Metal) 11 Dec 19 – Currently, mainstream prices for Chinese vanadium nitride stay at RMB147,000-150,000/t (USD27.1-27.7/kg V) EXW D/A 180 days, unchanged from this Monday. As the bidding volume of major steel mills before the Spring Festival is optimistic, most producers try to increase their quotation. Though few buyers would like to accept, insiders believe prices of vanadium nitride would edge up in the coming week.
A producer in North China quotes their bottom price for vanadium nitride at RMB150,000/t (USD27.7/kg V) EXW D/A 180 days, the same as this Monday. “I heard some suppliers have increased their quotation to RMB155,000/t (USD28.6/kg V) now. In fact, it’s hard to close deal above RMB150,000/t (USD27.7/kg V) at the moment.” Their last deal was made last Wednesday, when they sold 40t at RMB148,000/t (USD27.3/kg V) Delivered D/A 180 days. He added, “Major steel mills would make purchase for January and February together at the end of this month, which may stimulate prices of vanadium nitride increase to RMB155,000/t (USD28.6/kg V) at that time.” He believes prices of vanaidum nitride would move up by RMB2,000/t (USD0.4/kg V) in the coming week.
With an annual production capacity of 2,000t, they produced 150t in November and expect the same volume in December, holding 30t of stocks now.
A producer in Northeast China claimed their vanadium nitride at RMB152,000/t (USD28.0/kg V) EXW D/A 180 days and can accept RMB150,000/t (USD27.7/kg V) for firm bids, unchanged from this Monday. “Our last deal was made early last week ago, when we sold out all the 30t of stocks at RMB147,500/t (USD27.2/kg V). We have no inventory pressure now and we are in no hurry to accept new orders,” said the source. He added, “The current price for raw material vanadium pentoxide flake 98%min I received keeps firm at RMB98,000/t (USD6.4/lb V2O5) EXW D/A 180 days now, unchanged from last week.” Considering the cost keeps high and the bidding volume of major steel mills is expective, he believes prices of vanadium nitride would increase by RMB3,000/t (USD0.6/kg V) in the coming week.
With an annual production capacity of 1,200t, they produced 80t in November and expect the same volume in December, holding no inventory now.
www.asianmetal.com
