In view of the negative rebar market, Chinese vanadium nitride suppliers held weak mentality over the past week. Currently, the mainstream prices of Chinese vanadium nitride stand at RMB155,000-158,000/t (USD28.3-28.8/kg V) Delivered D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from late last week. Considering that both the supply and the demand keep soft now, insiders believe that the mainstream prices of Chinese vanadium nitride would stay weak in the coming week.
“Terminal users all prefer to consume their inventory and few traders would like to build inventory now, so we have to loosen our price to promote sales. For firm bids, we could possibly accept prices no less than RMB154,000/t (USD28.1/kg V) Delivered D/P now,” said a producer in South China. They last sold 20t at RMB155,000/t (USD28.3/kg V) about one week ago. Considering that inquiries keep rare for the moment, they predict that the mainstream prices of Chinese vanadium nitride would stay weak in the coming week.
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