Chinese vanadium nitride prices down
2023-04-20 08:23:06 [Print]
BEIJING (Asian Metal) 20 Apr 23 - In view of the soft demand and sufficient supply, Chinese vanadium nitride market mentality maintained negative over the past week. Currently, the mainstream prices of Chinese vanadium nitride stand at RMB172,000-175,000/t (USD32.7-33.3/kg V) delivered D/A 180 days, down by RMB8,000/t (USD1.5/kg V) from late last week. Considering that the weak market mentality in spot market continues, insiders believe that the mainstream prices of Chinese vanadium nitride would drop further in the coming week.
"Buyers could easily find enough goods in spot market and we have to drop our price to reduce the increasing inventory pressure. For firm bids, we could accept RMB175,000/t (USD33.3/kg V) delivered D/A 180 days now," said a producer in South China. They just sold 20t of vanadium nitride at this price level this Tuesday. However, they refused to sell at any prices below RMB183,000/t (USD34.8/kg V) just one week ago. Prices of vanadium pentoxide flake 98%min they inquired also moved down to the latest around RMB115,000/t (USD7.7/lb V2O5) EXW D/P. Considering that raw material prices couldn't offer any effective support, they expect that the mainstream prices of Chinese vanadium nitride would drop by at least RMB2,000/t (USD0.4/kg V) in the coming week.
With an annual production capacity of 1,400t, the producer produced about 520t in 2022 and about 160t in the first three months of 2023. They expect to produce about 60t in April, the same as last month. They have around 50t of stocks now, up by about 20t MoM.
"Our regular terminal users halved their monthly consumption and we face increasing inventory pressure now. In order to promote sales, we could accept RMB175,000/t (USD33.3/kg V) EXW D/A 180 days for the moment," said another producer in South China. They last sold 20t at RMB180,000/t (USD34.3/kg V) late last week and didn't receive any inquiries after that. In view of the dropping raw material prices, they predict that the mainstream prices of Chinese vanadium nitride would drop to around RMB170,000/t (USD32.4/kg V) in the following week.
With an annual production capacity of 2,400t, they produced about 760t IN 2022 and about 300t so far this year. They expect to produce about 50t this month, down by about 50t from March due to lack of orders, holding about 40t of inventories for the moment, up by about 20t MoM.
"Buyers could easily find enough goods in spot market and we have to drop our price to reduce the increasing inventory pressure. For firm bids, we could accept RMB175,000/t (USD33.3/kg V) delivered D/A 180 days now," said a producer in South China. They just sold 20t of vanadium nitride at this price level this Tuesday. However, they refused to sell at any prices below RMB183,000/t (USD34.8/kg V) just one week ago. Prices of vanadium pentoxide flake 98%min they inquired also moved down to the latest around RMB115,000/t (USD7.7/lb V2O5) EXW D/P. Considering that raw material prices couldn't offer any effective support, they expect that the mainstream prices of Chinese vanadium nitride would drop by at least RMB2,000/t (USD0.4/kg V) in the coming week.
With an annual production capacity of 1,400t, the producer produced about 520t in 2022 and about 160t in the first three months of 2023. They expect to produce about 60t in April, the same as last month. They have around 50t of stocks now, up by about 20t MoM.
"Our regular terminal users halved their monthly consumption and we face increasing inventory pressure now. In order to promote sales, we could accept RMB175,000/t (USD33.3/kg V) EXW D/A 180 days for the moment," said another producer in South China. They last sold 20t at RMB180,000/t (USD34.3/kg V) late last week and didn't receive any inquiries after that. In view of the dropping raw material prices, they predict that the mainstream prices of Chinese vanadium nitride would drop to around RMB170,000/t (USD32.4/kg V) in the following week.
With an annual production capacity of 2,400t, they produced about 760t IN 2022 and about 300t so far this year. They expect to produce about 50t this month, down by about 50t from March due to lack of orders, holding about 40t of inventories for the moment, up by about 20t MoM.
