Chinese vanadium nitride price drop
2023-04-11 07:43:29 [Print]
BEIJING (Asian Metal) 11 Apr 23 - Due to the sufficient supply in spot market, Chinese vanadium nitride market mentality kept soft during the past week. At present, the mainstream prices of Chinese vanadium nitride stand at RMB190,000-193,000/t (USD36.2-36.7/kg V) delivered D/A 180 days, down by RMB4,000/t (USD0.8/kg V) from middle last week. Considering that most producers face growing inventory pressure for the moment, insiders believe that the mainstream prices of Chinese vanadium nitride would drop further in the coming week.
"No steel mills would like to purchase at any prices above RMB193,000/t (USD36.7/kg V) delivered D/A 180 days now as buyers could easily find enough goods in spot market. In order to guarantee our market competitiveness, we could accept RMB192,000/t (USD36.5/kg V) for the moment," said a producer in South China. They last sold 20t of vanadium nitride at RMB195,000/t (USD37.1/kg V) about one week ago. In view of the increasing inventory pressure, they predict that the mainstream prices of Chinese vanadium nitride would drop below RMB190,000/t (USD36.2/kg V) in the following week.
With an annual production capacity of 1,200t, they produced about 800t in 2022 and about 240t in the first three months of 2023. They expect to produce about 80t in April, the same as March. They have around 50t of stocks for the moment, unchanged MoM.
"One steel mill in Jiangsu just bought 30t of vanadium nitride at RMB185,000/t (USD35.2/kg V) delivered D/A 180 days, which brought us huge dropping pressure and we have to drop our price to promote sales," said a producer in North China. They last sold 20t of vanadium nitride at RMB196,000/t (USD37.3/kg V) middle last week and could accept RMB192,000/t (USD36.5/kg V) for the moment. Prices of vanadium pentoxide flake 98%min they inquired moved down to the latest around RMB128,000/t (USD8.6/lb V2O5) EXW D/P. In view of the dropping raw material prices and growing inventory, they expect that the mainstream prices of Chinese vanadium nitride would move down to around RMB190,000/t (USD36.2/kg V) in the coming week.
With an annual production capacity of 2,400t, they produced about 900t in 2022 and about 180t in the first three months of this year. They expect to produce about 40t this month, down by about 20t from March due to lack of orders, holding around 40t of stocks for the moment, up by about 20t MoM.
"No steel mills would like to purchase at any prices above RMB193,000/t (USD36.7/kg V) delivered D/A 180 days now as buyers could easily find enough goods in spot market. In order to guarantee our market competitiveness, we could accept RMB192,000/t (USD36.5/kg V) for the moment," said a producer in South China. They last sold 20t of vanadium nitride at RMB195,000/t (USD37.1/kg V) about one week ago. In view of the increasing inventory pressure, they predict that the mainstream prices of Chinese vanadium nitride would drop below RMB190,000/t (USD36.2/kg V) in the following week.
With an annual production capacity of 1,200t, they produced about 800t in 2022 and about 240t in the first three months of 2023. They expect to produce about 80t in April, the same as March. They have around 50t of stocks for the moment, unchanged MoM.
"One steel mill in Jiangsu just bought 30t of vanadium nitride at RMB185,000/t (USD35.2/kg V) delivered D/A 180 days, which brought us huge dropping pressure and we have to drop our price to promote sales," said a producer in North China. They last sold 20t of vanadium nitride at RMB196,000/t (USD37.3/kg V) middle last week and could accept RMB192,000/t (USD36.5/kg V) for the moment. Prices of vanadium pentoxide flake 98%min they inquired moved down to the latest around RMB128,000/t (USD8.6/lb V2O5) EXW D/P. In view of the dropping raw material prices and growing inventory, they expect that the mainstream prices of Chinese vanadium nitride would move down to around RMB190,000/t (USD36.2/kg V) in the coming week.
With an annual production capacity of 2,400t, they produced about 900t in 2022 and about 180t in the first three months of this year. They expect to produce about 40t this month, down by about 20t from March due to lack of orders, holding around 40t of stocks for the moment, up by about 20t MoM.
