BEIJING (Asian Metal) 6 Jan 20 – Currently, mainstream prices for Chinese vanadium nitride stand at RMB145,000-148,000/t (USD27.0-27.6/kg V) EXW D/A 180 days, unchanged from last week. Steel mills refuse to buy at high price level for the loose supply situation but suppliers refuse to drop their price for the high cost either. Insiders believe that prices of vanaidum nitride would stay in a stalemate in the coming week.
A trader in South China quotes their bottom price for vanadium nitride at RMB145,000/t (USD27.0/kg V) EXW D/P, unchanged from last week. “We built 30t of stocks at RMB143,000/t (USD26.7/kg V) EXW D/P in the middle of December and we need to guarantee at least RMB2,000/t (USD0.4/kg V) as profit margin for firm bids. Or we won’t accept any orders before the Spring Festival,” said the source. Their last deal was made late last month, when they sold 10t at RMB145,000/t (USD27.0/kg V). Considering bidding prices of major steel mills keep around at RMB147,000/t (USD27.4/kg V) Delivered D/A 180 days, he believes that prices of vanadium nitride would stay steady in the coming week.
With a regular trading volume of 30tpm, they sold 300t in 2018 and 350t in 2019. They expect to sell 30t in January, the same as December, holding 20t of stocks, down by 10t from last month.
Another trader in South China claimed the current price for vanadium nitride he received stands at RMB148,000/t (USD27.6/kg V) EXW D/A 180 days and can buy at RMB147,500/t (USD27.5/kg V) for firm bids, the same as last week. “Our steel mill clients refuse to buy at more than RMB148,000/t (USD27.6/kg V) Delivered D/A 180 days now. In order to guarantee our basic profir margin, we can at most accept RMB144,000/t (USD26.9/kg V) EXW D/P at the moment,” said the source. He added, “It’s hard to find resources at this price level in spot marekt now as their cost keeps high.” Their last deal was made late last week, when they sold 30t at RMB146,500/t (USD27.3/kg V) Delivered D/P. He believes that prices of vanadium nitride would stay in a stalemate in the coming week.
With a regular trading volume of 50tpm, they sold 550t in 2018 and 500t in 2019. They sold 50t in December and expect the same volume in January, holding no stocks now, reduced by 30t from last month.
www.asianmetal.com
