Chinese vanadium nitride market sees sufficient supply
2023-03-08 08:29:50 [Print]
BEIJING (Asian Metal) 8 Mar 23 - Though steel mills had strong demand, but Chinese vanadium nitride market prices still moved down slightly during the past week due to the sufficient supply in spot market. Currently, the mainstream prices of Chinese vanadium nitride stand at RMB204,000-207,000/t (USD38.1-38.6/kg V) delivered D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from late last week. Considering that raw material prices stay firm for the moment, insiders believe that the mainstream prices of Chinese vanadium nitride would stay in a stalemate in the coming week.
"Steel mills kept purchasing by bulk during the past week, but we still face huge inventory pressure just because of our production cost stays higher than bidding prices. The latest bidding prices we inquired dropped to the latest around RMB202,000/t (USD37.7/kg V) delivered D/A 180 days," said a producer in South China. They last sold 20t of vanadium nitride at RMB205,000/t (USD38.3/kg V) delivered D/A 180 day, and could accept RMB202,000/t (USD37.7/kg V) delivered D/P for the moment. Considering that they could hardly clear their inventory with a price higher than their cost, they believe that the mainstream prices of Chinese vanadium nitride would stay soft in the coming week.
With an annual production capacity of 2,000t, they produced about 730t in 2022 and about 200t in the first two months of 2023. They expect to produce about 100t this month, almost the same as last month. They have about 30t of stocks for the moment, unchanged MoM.
"We have no confidence for price rise though steel mills' demand stays strong, just because of the high market inventory level. For firm bids, we could accept RMB202,000/t (USD37.7/kg V) delivered D/P now," said a producer in North China. They last sold 30t of vanadium nitride at RMB205,000/t (USD38.3/kg V) about one week ago. Prices of vanadium pentoxide flake 98%min they inquired stayed firm at around RMB139,000/t (USD9.2/lb V2O5) EXW D/P during the past week. Supported by the current raw material prices, they believe that the mainstream prices of Chinese vanadium nitride would keep in a stalemate in the following week.
With an annual production capacity of 2,400t, they produced about 900t in 2022 and about 120t so far this year. The producer expects to produce about 60t in March, almost the same as February, holding no inventory now, unchanged MoM.
"Steel mills kept purchasing by bulk during the past week, but we still face huge inventory pressure just because of our production cost stays higher than bidding prices. The latest bidding prices we inquired dropped to the latest around RMB202,000/t (USD37.7/kg V) delivered D/A 180 days," said a producer in South China. They last sold 20t of vanadium nitride at RMB205,000/t (USD38.3/kg V) delivered D/A 180 day, and could accept RMB202,000/t (USD37.7/kg V) delivered D/P for the moment. Considering that they could hardly clear their inventory with a price higher than their cost, they believe that the mainstream prices of Chinese vanadium nitride would stay soft in the coming week.
With an annual production capacity of 2,000t, they produced about 730t in 2022 and about 200t in the first two months of 2023. They expect to produce about 100t this month, almost the same as last month. They have about 30t of stocks for the moment, unchanged MoM.
"We have no confidence for price rise though steel mills' demand stays strong, just because of the high market inventory level. For firm bids, we could accept RMB202,000/t (USD37.7/kg V) delivered D/P now," said a producer in North China. They last sold 30t of vanadium nitride at RMB205,000/t (USD38.3/kg V) about one week ago. Prices of vanadium pentoxide flake 98%min they inquired stayed firm at around RMB139,000/t (USD9.2/lb V2O5) EXW D/P during the past week. Supported by the current raw material prices, they believe that the mainstream prices of Chinese vanadium nitride would keep in a stalemate in the following week.
With an annual production capacity of 2,400t, they produced about 900t in 2022 and about 120t so far this year. The producer expects to produce about 60t in March, almost the same as February, holding no inventory now, unchanged MoM.
