Chinese ammonium metavanadate prices down
2023-04-13 08:08:05 [Print]
BEIJING (Asian Metal) 13 Apr 23 - Due to the dropping vanadium alloy prices, Chinese ammonium metavanadate prices couldn't get effective support and the market stayed negative during the past week. At present, the mainstream prices of Chinese ammonium metavanadate 98%min stand at RMB117,000-119,000/t (USD17.1-17.4/kg) EXW D/P, down by RMB6,000/t (USD0.9/kg) from late last week. Considering that spot market sees sufficient supply and the negative market mentality continues, insiders believe that the mainstream prices of Chinese ammonium metavanadate 98%min would move down slightly in the coming week.
"Vanadium alloy dealing prices kept moving down so far this month, which couldn't offer any effective support for ammonium metavanadate 98%min prices. In order to guarantee our competitiveness, we could accept RMB117,000/t (USD17.1/kg) EXW D/P now," said a producer in South China. They just sold 20t of ammonium metavanadate 98%min at this price level two days ago and their regular clients even refuse to purchase at any prices above RMB115,000/t (USD16.9/kg) for the moment. However, they could easily close deal at around RMB125,000/t (USD18.3/kg) just one week before. Considering that inquiries in spot market continues, they predict that the mainstream prices of Chinese ammonium metavanadate 98%min would drop to around RMB115,000/t (USD16.9/kg) in the following week.
With an annual production capacity of 1,200t, they produced about 600t in 2022 and about 140t in the first three months of 2023. The producer expects to produce about 50t this month, almost the same as last month, holding around 20t of stocks for the moment, unchanged MoM.
"Vanadium nitride bidding prices we inquired dropped to the latest around RMB185,000/t (USD35.2/kg V) delivered D/A 180 days and vanadium pentoxide flake 98%min price also dropped to RMB123,000/t (USD8.3/lb V2O5) EXW D/P, so we have to drop our ammonium metavanadate 98%min price accordingly," said another producer in South China. They last sold 30t of ammonium metavanadate 98%min at RMB125,000/t (USD18.3/kg) EXW D/P about one week ago and could accept RMB117,000/t (USD17.1/kg) for firm bids now. In view of the growing inventory pressure, they expect that the mainstream prices of Chinese ammonium metavanadate 98%min would drop to around RMB110,000/t (USD16.1/kg) in the following week.
With an annual production capacity of 1,200t, they produced about 630t in 2022 and about 150t so far this year. The producer expects to produce around 50t in April, the same as last month. They have around 30t of inventories for the moment, unchanged MoM.
"Vanadium alloy dealing prices kept moving down so far this month, which couldn't offer any effective support for ammonium metavanadate 98%min prices. In order to guarantee our competitiveness, we could accept RMB117,000/t (USD17.1/kg) EXW D/P now," said a producer in South China. They just sold 20t of ammonium metavanadate 98%min at this price level two days ago and their regular clients even refuse to purchase at any prices above RMB115,000/t (USD16.9/kg) for the moment. However, they could easily close deal at around RMB125,000/t (USD18.3/kg) just one week before. Considering that inquiries in spot market continues, they predict that the mainstream prices of Chinese ammonium metavanadate 98%min would drop to around RMB115,000/t (USD16.9/kg) in the following week.
With an annual production capacity of 1,200t, they produced about 600t in 2022 and about 140t in the first three months of 2023. The producer expects to produce about 50t this month, almost the same as last month, holding around 20t of stocks for the moment, unchanged MoM.
"Vanadium nitride bidding prices we inquired dropped to the latest around RMB185,000/t (USD35.2/kg V) delivered D/A 180 days and vanadium pentoxide flake 98%min price also dropped to RMB123,000/t (USD8.3/lb V2O5) EXW D/P, so we have to drop our ammonium metavanadate 98%min price accordingly," said another producer in South China. They last sold 30t of ammonium metavanadate 98%min at RMB125,000/t (USD18.3/kg) EXW D/P about one week ago and could accept RMB117,000/t (USD17.1/kg) for firm bids now. In view of the growing inventory pressure, they expect that the mainstream prices of Chinese ammonium metavanadate 98%min would drop to around RMB110,000/t (USD16.1/kg) in the following week.
With an annual production capacity of 1,200t, they produced about 630t in 2022 and about 150t so far this year. The producer expects to produce around 50t in April, the same as last month. They have around 30t of inventories for the moment, unchanged MoM.
