BEIJING (Asian Metal) 16 Dec 19 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB148,000-151,000/t (USD27.5-28.1/kg V) EXW D/A 180 days, up by RMB1,000/t (USD0.2/kg V) from last week. Most suppliers are optimistic for the bidding volume of major steels at the end of this month and they expect prices would keep firm in the coming week.
A producer in South China quotes their vanadium nitride at RMB152,000/t (USD28.3/kg V) EXW D/A 180 days and can accept RMB150,000/t (USD27.9/kg V) for firm bids, up by RMB2,000/t (USD0.4/kg V) from last week. “Our last deal was made early last week, when we sold 40t at RMB148,000/t (USD27.5/kg V) Delivered D/A 180 days. Our regular steel mill client told me that they will buy 80t at the end of this month, twice as much as usual,” said the source. He believes that prices of vanaidum nitride would keep firm in the coming week.
With an annual production capacity of 2,400t, they produced 180t in November and expect the same volume in December, holding 50t of stocks now.
A consumer in South China claimed the current price for vanadium nitride he received stands at RMB150,000/t (USD27.9/kg V) EXW D/A 180 days, up by RMB1,500/t (USD0.3/kg V) from last week. “Our last deal was made last Wednesday, when we bought 60t from our regular supplier at RMB148,500/t (USD27.6/kg V) Delivered D/A 180 days,” said the source. He added, “Prices of vanadium pentoxide flake 98%min keep around at RMB96,000/t (USD6.4/lb V2O5) EXW D/A 180 days at the moment, which means the cost of vanadium nitride stays firm at RMB149,000/t (USD27.7/kg V).” Considering suppliers of vanadium nitride can hardly guanantee their basic profit margin, he believes that prices of vanadium nitride would be firm in the coming week.
With an annual consumption capacity of 720t, they consumed 700t in 2018 and have consumed 650t so far this year. They expect to consume 50t in December, unchanged from last week. They have 60t of stocks now, the same as last month.
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