BEIJING (Asian Metal) 23 Apr 20 – As prices of vanadium pentoxide flake 98%min stay firm in the past month, producers of vanadium nitride tried to increase their quotation to reduce their losses. Currently, mainstream prices of Chinese vanadium nitride stand at RMB142,000-145,000/t (USD26.0-26.6/kg) EXW D/A 180 days, up by RMB3,000/t (USD0.6/kg) from last week. Insiders believe that mainstream prices of vanadium nitride would stay firm in the coming week.
A producer in North China quotes their vanadium nitride and RMB142,000/t (USD26.0/kg) EXW D/P and won’t accept any discount for firm bids, up by RMB2,000/t (USD0.4/kg) from last week. “We sold 20t to our steel mill client at RMB142,000/t (USD26.0/kg) delivered D/A 180 days two weeks ago and we didn’t close any deals after that as prices are far lower than our cost,” said the source. He received an inquiry for 50t this week but the buyer only wanted to buy at no more than RMB140,000/t (USD25.7/kg) EXW D/P. They refused this order at last. Considering the cost didn’t drop during the past month, he believes that mainstream prices of vanadium nitride would increase by RMB1,000/t (USD0.2/kg) in the coming week.
With an annual production capacity of 2,000t, they produced about 1,800t in 2019. They expect to produce 100t in April, down by 20t from March, holding about 50t of stocks now, the same as last month.
Another producer in North China quotes their vanadium nitride at RMB145,000/t (USD26.6/kg V) EXW D/A 180 days and RMB142,000/t (USD26.0/kg) EXW D/P, they won’t accept any discount now, up by RMB3,000/t (USD0.6/kg) from last week. “We signed contracts with our regular steel mill clients all at RMB142,000/t (USD26.0/kg) delivered D/A 180 days in April,” said the source. He believes that bidding prices would rebound from this price level to RMB145,000/t (USD26.6/kg) in the coming week.
With a production capacity of 2,400tpy for vanadium nitride, they produced about 2,000t in 2019. They expect to produce about 200t in April, almost the same as March, holding about 100t of regular stocks, unchanged from last month.
www.asianmetal.com
