Chinese vanadium nitride prices edge down
2023-03-15 08:29:26 [Print]
BEIJING (Asian Metal) 15 Mar 23 - In view of the sufficient supply in spot market, Chinese vanadium nitride market mentality stayed negative during the past week. Currently, the mainstream prices of Chinese vanadium nitride stand at RMB203,000-206,000/t (USD37.9-38.4/kg V) delivered D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from late last week. Though raw material prices stay in a stalemate, considering that the weak market mentality continues, insiders believe that the mainstream prices of Chinese vanadium nitride would edge down in the coming week.
"We face huge inventory pressure for the moment and have to loosen our price to promote sales. For firm bids, we could accept RMB205,000/t (USD38.3/kg V) delivered D/A 180 days now," said a producer in North China. They last sold 20t of vanadium nitride at RMB206,000/t (USD38.4/kg V) late last week. Though raw material prices stayed in a stalemate, considering that buyers could easily find enough vanadium nitride in spot market, they expect that the mainstream prices of Chinese vanadium nitride would stay weak in the coming week.
With an annual production capacity of 10,000t, they produced about 4,300t in 2022 and about 700t so far this year. They expect to produce about 350t in March, almost the same as last month. They have around 200t of inventories for the moment, unchanged MoM.
"No buyers would like to build inventory and we could hardly maintain our price firm. For firm bids, we could accept RMB202,000/t (USD37.7/kg V) EXW D/A now," said another producer in North China. They quoted RMB203,000/t (USD37.9/kg V) during the past week and last sold 20t at RMB202,000/t (USD37.7/kg V) late last week. Their major clients even refuse to purchase at any prices above RMB200,000/t (USD37.3/kg V) now. In view of the growing inventory pressure, they believe that the mainstream prices of Chinese vanadium nitride would stay soft in the following week.
With an annual production capacity of 2,400t, they produced about 1,660t in 2022 and about 240t in the first two months of this year. They expect to produce about 120t this month, almost the same as last month, holding around 60t of stocks now, up by about 10t MoM.
"We face huge inventory pressure for the moment and have to loosen our price to promote sales. For firm bids, we could accept RMB205,000/t (USD38.3/kg V) delivered D/A 180 days now," said a producer in North China. They last sold 20t of vanadium nitride at RMB206,000/t (USD38.4/kg V) late last week. Though raw material prices stayed in a stalemate, considering that buyers could easily find enough vanadium nitride in spot market, they expect that the mainstream prices of Chinese vanadium nitride would stay weak in the coming week.
With an annual production capacity of 10,000t, they produced about 4,300t in 2022 and about 700t so far this year. They expect to produce about 350t in March, almost the same as last month. They have around 200t of inventories for the moment, unchanged MoM.
"No buyers would like to build inventory and we could hardly maintain our price firm. For firm bids, we could accept RMB202,000/t (USD37.7/kg V) EXW D/A now," said another producer in North China. They quoted RMB203,000/t (USD37.9/kg V) during the past week and last sold 20t at RMB202,000/t (USD37.7/kg V) late last week. Their major clients even refuse to purchase at any prices above RMB200,000/t (USD37.3/kg V) now. In view of the growing inventory pressure, they believe that the mainstream prices of Chinese vanadium nitride would stay soft in the following week.
With an annual production capacity of 2,400t, they produced about 1,660t in 2022 and about 240t in the first two months of this year. They expect to produce about 120t this month, almost the same as last month, holding around 60t of stocks now, up by about 10t MoM.
