Chinese ammonium metavanadate prices down
2023-04-25 08:28:42 [Print]
BEIJING (Asian Metal) 25 Apr 23 - In view of the dropping vanadium alloy prices, Chinese ammonium metavanadate market mentality maintained negative during the past week due to lack of effective support. At present, the mainstream prices of Chinese ammonium metavanadate 98%min stand at RMB105,000-107,000/t (USD15.4-15.7/kg) EXW D/P, down by RMB2,000/t (USD0.3/kg) from late last week. Considering that the sufficient supply in spot market continues, insiders believe that the mainstream prices of Chinese ammonium metavanadate 98%min would decline further in the coming week.
"Vanadium nitride and ferrovanadium 50%min prices we inquired dropped to the latest around RMB163,000/t (USD31/kg V) delivered D/P and RMB115,000/t (USD33.7/kg V) delivered D/A 180 days, which reduced our confidence a lot," said a producer in North China. They last sold 20t of ammonium metavanadate 98%min at RMB109,000/t (USD16/kg) EXW D/P late last week and could accept RMB106,000/t (USD15.5/kg) now. Considering that they couldn't get any effective support from downstream market, they predict that the mainstream prices of Chinese ammonium metavanadate 98%min would drop to around RMB100,000/t (USD14.7/kg) in the following week.
With a production capacity of 2,400tpy, they produced about 770t in 2022 and about 260t so far this year. They expect to produce about 100t in April, up by about 20t from last month, holding nearly 20t of stocks for the moment, unchanged MoM.
"In view of the dropping vanadium alloy prices, we have to loosen our ammonium metavanadate 98%min price to guarantee our market competitiveness. For firm bids, we could accept RMB105,000/t (USD15.4/kg) EXW D/P now," said another producer in South China. They just sold 20t of ammonium metavanadate 98%min at this price level yesterday. However, they refused to sell at any prices below RMB109,000/t (USD16/kg) just one week before. Considering that they could easily feel the negative market mentality, they expect that the mainstream prices of Chinese ammonium metavanadate 98%min would drop by at least RMB5,000/t (USD0.7/kg) in the coming week.
With an annual production capacity of 2,000t, they produced about 1,300t in 2022 and about 300t in the first three months of 2023. They expect to produce about 150t this month, up by about 50t from last month. They have about 40t of inventories for the moment, up by about 10t MoM.
"Vanadium nitride and ferrovanadium 50%min prices we inquired dropped to the latest around RMB163,000/t (USD31/kg V) delivered D/P and RMB115,000/t (USD33.7/kg V) delivered D/A 180 days, which reduced our confidence a lot," said a producer in North China. They last sold 20t of ammonium metavanadate 98%min at RMB109,000/t (USD16/kg) EXW D/P late last week and could accept RMB106,000/t (USD15.5/kg) now. Considering that they couldn't get any effective support from downstream market, they predict that the mainstream prices of Chinese ammonium metavanadate 98%min would drop to around RMB100,000/t (USD14.7/kg) in the following week.
With a production capacity of 2,400tpy, they produced about 770t in 2022 and about 260t so far this year. They expect to produce about 100t in April, up by about 20t from last month, holding nearly 20t of stocks for the moment, unchanged MoM.
"In view of the dropping vanadium alloy prices, we have to loosen our ammonium metavanadate 98%min price to guarantee our market competitiveness. For firm bids, we could accept RMB105,000/t (USD15.4/kg) EXW D/P now," said another producer in South China. They just sold 20t of ammonium metavanadate 98%min at this price level yesterday. However, they refused to sell at any prices below RMB109,000/t (USD16/kg) just one week before. Considering that they could easily feel the negative market mentality, they expect that the mainstream prices of Chinese ammonium metavanadate 98%min would drop by at least RMB5,000/t (USD0.7/kg) in the coming week.
With an annual production capacity of 2,000t, they produced about 1,300t in 2022 and about 300t in the first three months of 2023. They expect to produce about 150t this month, up by about 50t from last month. They have about 40t of inventories for the moment, up by about 10t MoM.
