BEIJING (Asian Metal) 7 Jul 20 – Currently, mainstream prices of Chinese ammonium metavanadate 98%min stand at RMB98,000-100,000/t (USD14.0-14.2/kg) Inc-VAT EXW D/P, down by RMB2,000/t (USD0.3/kg) from one week ago. Consumers only purchase according to urgent need and the market keeps quiet. As most producers just producing according to orders and the supply situation stays tight in spot market, insiders believe that mainstream prices of ammonium metavanadate 98%min would keep calm in the coming week.
“We quote RMB100,000/t (USD14.2/kg) during the past week but in order to promote sales, we could accept RMB99,000/t (USD14.1/kg) for firm bids more than 10t and RMB98,000/t (USD14.0/kg) for firm bids more than 20t,” a producer in North China said. Their last deal was made late last week, when they sold 20t at RMB98,000/t (USD14.0/kg). In order to reduce their inventory, they only produce according to orders so far this year. As inquiries from end consumers stay rare, he believes that mainstream prices of ammonium metavanadate 98%min would keep weak in the coming week.
With an annual production capacity of 1,200t, they produced about 1,000t in 2019 and only about 130t in the first half of this year. They expect to produce 40t in July, unchanged from June, holding about 20t of stocks now, the same as last week.
“We drop our bottom price from RMB100,000/t (USD14.2/kg) Inc-VAT EXW D/P to RMB98,000/t (USD14.0/kg) during the past week just in order to promote sales,” a producer in South China noted. Their last deal was made last Friday, when they sold 5t at RMB99,000/t (USD14.1/kg) and another 5t at RMB98,000/t (USD14.0/kg). As their regular clients only purchase according to urgent need and the market keeps calm, he believes that mainstream prices of ammonium metavanadate 98%min would stay in a stalemate in the coming week.
This company could produce 30tpm in normal. They produced about 300t in 2019 but only 120t so far this year. They expect to produce about 25t in July,
unchanged from June, holding about 10t of stocks now, the same as last month.
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