BEIJING (Asian Metal) 8 May 20 – Currently, mainstream prices of Chinese vanadium nitride stand at RMB145,000-148,000/t (USD26.6-27.1/kg V) EXW D/A 180 days, unchanged from last week. As most steel mills have finished their bidding for May, the market stays quiet now. However, considering prices of raw material keep firm during the past two weeks, insiders believe that mainstream prices of vanadium nitride would edge up in the coming week.
A producer in South China quotes their vanadium nitride at RMB145,000/t (USD26.6/kg V) EXW D/P and could accept RMB144,000/t (USD26.4/kg V) for firm bids, the same as last week. “The quotation for vanadium pentoxide flake 98%min I received stands firm at RMB96,000/t (USD6.3/lb V2O5) EXW D/A 180 days now. Considering the cost keeps high, we won’t accept any orders for vanadium nitride below our bottom line,” said the source. Their last deal was made two weeks ago, when they sold 60t at RMB145,000/t (USD26.6/kg V) delivered D/A 180 days to their regular steel mill client. Though inquiries are rare to see at the moment, he believes that mainstream prices of vanadium nitride would touch RMB148,000/t (USD27.1/kg V) delivered D/A 180 day in the coming week due to the high cost.
With a production capacity of 3,600tpy, they produced about 100t in April and expect the same volume in May, holding about 50t of stocks at the moment, down by 30t from last month.
A producer in Northwest China quotes at RMB148,000/t (USD27.1/kg) EXW D/A 180 days for their vanadium nitride and could accept RMB146,000/t (USD26.7/kg) for firm bids more than 30t, the same as last week. “We sold 30t to our regular steel mill client at RMB146,000/t (USD26.7/kg V) delivered D/A 180 days at the end of April and we have not closed new deals in May,” said the source. He received the current quotation for raw material ammonium metavanadate 98%min at RMB93,000/t (USD13.1/kg), up by RMB3,000/t (USD0.4/kg) from two weeks ago. Considering the cost stays high, he believes that mainstream prices of vanadium nitride would increase to RMB150,000/t (USD27.5/kg V) in the coming week.
With an annual production capacity of 1,200t, they produced about 80t in April and expect to produce about 100t in May according to the signed orders, holding no stocks at the moment, down by 30t from last month.
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