BEIJING (Asian Metal) 25 Mar 20 – Currently, mainstream prices of Chinese ammonium metavanadate 98%min stand at RM89,000-92,000/t (USD12.6-13.0/kg) Inc-VAT EXW D/P, unchanged from last week. Consumers only make purchase according to urgent need and the market keeps calm. Insiders believe that mainstream prices of ammonium metavanadate would stay in a stalemate in the coming week.
A producer in South China quotes their ammonium metavanadate 98%min at RMB90,000/t (USD12.7/kg) Inc-VAT EXW D/P and they can accept RMB89,000/t (USD12.6/kg) for firm bids, unchanged from last week. “Our last deal was made this Monday, when we sold 30t at RMB89,000/t (USD12.6/kg). Our clients refuse to buy at higher price level and we would rather hold our stocks,” said the source. They are out of production now because of the virus. Considering the profit keeps thin, they are not in hurry to resume production now. He believes that mainstream prices would keep steady in the coming week.
With an annual production capacity of 720t, they were out of production during the past two months. They prepare to resume production in the middle of April, holding 220t of stocks at the moment.
Another producer in South China notes their ammonium metavanadate 98%min at RMB91,500/t (USD12.9/kg) Inc-VAT EXW D/P and they can accept RMB90,000/t (USD12.7/kg) for firm bids, the same as last week. “We just sold 20t this week at RMB90,000/t (USD12.7/kg). It’s hard to close deal at higher price level as inquiries are rare to see at the moment,” said the source. They didn’t produce in the first three months because of the virus, they are selling the history inventory now. He believes that mainstream prices would be weak in the coming week.
With an annual production capacity of 720t, they can produce 50tpm in normal. They prepare to resume production at the end of April, holding 30t of stocks now.
www.asianmetal.com
