Chinese vanadium nitride prices stay soft
2023-03-28 07:49:53 [Print]
BEIJING (Asian Metal) 28 Mar 23 - As most producers faced huge inventory pressure, Chinese vanadium nitride market mentality stayed soft during the past week. Currently, the mainstream prices of Chinese vanadium nitride stand at RMB201,000-204,000/t (USD38.3-38.8/kg V) delivered D/A 180 days, unchanged from middle last week. Considering that the sufficient supply in spot market continues, insiders believe that the mainstream prices of Chinese vanadium nitride would keep weak in the coming week.
"No buyers would like to add inventory for the moment and we could hardly maintain our price firm. According to the feedback of our major clients, we could at most sell at around RMB201,000/t (USD38.3/kg V) delivered D/A 180 days," said a producer in South China. They last sold 20t of vanadium nitride at this price level about one week ago and didn't receive any inquiries after that. They called their regular clients this Monday, but buyers only wanted to purchase at prices no more than RMB195,000/t (USD37.1/kg V) EXW D/P. In view of the rare inquiries in spot market, they expect that the mainstream prices of Chinese vanadium nitride would drop by around RMB3,000/t (USD0.6/kg V) in the coming week.
With an annual production capacity of 2,000t, they produced about 730t in 2022 and about 300t so far this year. They expect to produce about 100t this month, the same as February, holding around 50t of stocks now, up by about 20t MoM.
"We faced increasing inventory pressure during the past week but we couldn't drop our prices to promote sales just in order to guarantee our basic profit. For firm bids, we ask at least RMB202,000/t (USD38.4/kg V) delivered D/A 180 days now," said a producer in North China. They last sold 20t of vanadium nitride at RMB202,000/t (USD38.4/kg V) EXW D/P middle last week. Prices of vanadium pentoxide flake 98%min they inquired stayed dropped to the latest around RMB135,500/t (USD9.2/lb V2O5) EXW D/P. Considering that inquiries in spot market stay rare and raw material prices keep moving down, they expect that the mainstream prices of Chinese vanadium nitride would drop below RMB200,000/t (USD38.1/kg V) in the following week.
With an annual production capacity of 2,400t, they produced about 900t in 2022 and about 180t so far this year. The producer expects to produce about 60t in March, almost the same as last month. They have about 20t of stocks now, up by about 20t MoM.
"No buyers would like to add inventory for the moment and we could hardly maintain our price firm. According to the feedback of our major clients, we could at most sell at around RMB201,000/t (USD38.3/kg V) delivered D/A 180 days," said a producer in South China. They last sold 20t of vanadium nitride at this price level about one week ago and didn't receive any inquiries after that. They called their regular clients this Monday, but buyers only wanted to purchase at prices no more than RMB195,000/t (USD37.1/kg V) EXW D/P. In view of the rare inquiries in spot market, they expect that the mainstream prices of Chinese vanadium nitride would drop by around RMB3,000/t (USD0.6/kg V) in the coming week.
With an annual production capacity of 2,000t, they produced about 730t in 2022 and about 300t so far this year. They expect to produce about 100t this month, the same as February, holding around 50t of stocks now, up by about 20t MoM.
"We faced increasing inventory pressure during the past week but we couldn't drop our prices to promote sales just in order to guarantee our basic profit. For firm bids, we ask at least RMB202,000/t (USD38.4/kg V) delivered D/A 180 days now," said a producer in North China. They last sold 20t of vanadium nitride at RMB202,000/t (USD38.4/kg V) EXW D/P middle last week. Prices of vanadium pentoxide flake 98%min they inquired stayed dropped to the latest around RMB135,500/t (USD9.2/lb V2O5) EXW D/P. Considering that inquiries in spot market stay rare and raw material prices keep moving down, they expect that the mainstream prices of Chinese vanadium nitride would drop below RMB200,000/t (USD38.1/kg V) in the following week.
With an annual production capacity of 2,400t, they produced about 900t in 2022 and about 180t so far this year. The producer expects to produce about 60t in March, almost the same as last month. They have about 20t of stocks now, up by about 20t MoM.
