BEIJING (Asian Metal) 15 May 20 – At present, mainstream prices of Chinese ammonium metavanadate 98%min stand at RMB92,000-94,000/t (USD13.0-13.2/kg) Inc-VAT EXW D/P, up by RMB500/t (USD0.1/kg) from last week. As prices nearly touched the cost line, most producers have strong intention to increase their quotation. Insiders believe that prices of ammonium metavanadate 98%min would stay firm in the coming week.
A producer in South China quotes their ammonium metavanadate 98%min at RMB94,000/t (USD13.2/kg) Inc-VAT EXW D/P and could accept RMB92,000/t (USD13.0/kg) for firm bids more than 20t, up by RMB500/t (USD0.1/kg) from last week. “We sold 12t at RMB91,500/t (USD12.9/kg) late last week. We have no stock pressure and would not accept any orders below our current quotation now,” said the source. They buy stone-coal as raw material and the cost stays higher than other producers. He believes that mainstream prices of ammonium metavanadate 98%min would stay firm in the coming week.
With a production capacity of 600tpy, they produced about 500t in 2019 and 120t so far this year. They produced about 40 in April and didn’t produce in May, holding about 20t of stocks now.
A trader in South China notes the current prices for ammonium metavanadate 98%min he received keep at RMB92,000/t (USD13.0/kg) Inc-VAT EXW D/P, up by RMB1,000/t (USD0.2/kg) from last week. “We bought 20t from our regular supplier at RMB91,000/t (USD12.8/kg) early last week. To be frank, it’s hard to find resources in spot market below RMB92,000/t (USD13.0/kg) now,” said the source. Considering few suppliers would like to promote sales, he believes that mainstream prices of ammonium metavanadate 98%min would stay firm in the coming week.
With a regular trading volume of 40tpm, they sold about 40t in April and expect the same volume in May. Due to the COVID-19, they only purchase according orders to avoid the market risk. No stocks now.
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