Chinese vanadium nitride prices move down slightly
2023-03-23 08:24:41 [Print]
BEIJING (Asian Metal) 23 Mar 23 - Due to the sufficient supply in spot market, Chinese vanadium nitride market mentality went weak accordingly during the past week. Currently, the mainstream prices of Chinese vanadium nitride stand at RMB201,000-204,000/t (USD37.5-38.1/kg V) delivered D/A 180 days, down by RMB1,000/t (USD0.2/kg V) from late last week. Considering that most producers face growing inventory pressure for the moment, insiders believe that the mainstream prices of Chinese vanadium nitride would move down slightly in the following week.
"Steel mills only would like to purchase vanadium nitride at prices no more than RMB201,000/t (USD37.5/kg V) delivered D/A 180 days, and we had to drop our prices to adapt to the current market," said a producer in North China. They just sold 20t of vanadium nitride at this price level this Tuesday. However, they refused to sell at any prices below RMB203,000/t (USD37.9/kg V) just one week ago. Prices of vanadium pentoxide flake 98%min they inquired also dropped by RMB2,500/t (USD0.2/lb V2O5) from one week ago to the latest around RMB135,500/t (USD9/lb V2O5) EXW D/P. Considering that raw material prices started to loosen, they expect that the mainstream prices of Chinese vanadium nitride would drop to around RMB200,000/t (USD37.3/kg V) in the coming week.
With an annual production capacity of 1,400t, the producer produced about 520t in 2022 and about 80t in the first two months of 2023. They expect to produce about 50t this month, the same as February, holding around 30t of inventories for the moment, unchanged MoM.
"Our regular clients reduced their monthly consumption from 400tpm to the current 100tpm, which seriously reduced our confidence. In order to promote sales, we could accept RMB202,000/t (USD37.7/kg V) delivered D/A 180 days now," said a producer in North China. They last sold 20t of vanadium nitride at RMB205,000/t (USD38.3/kg V) about one week ago. In view of the high inventory pressure, they believe that the mainstream prices of Chinese vanadium nitride would edge down in the following week.
With an annual production capacity of 10,000t, they produced about 7,150t in 2022 and about 200t in the first two months of 2023. They expect to produce about 100t this month, almost the same as last month. They have around 100t of stocks for the moment, unchanged MoM.
"Steel mills only would like to purchase vanadium nitride at prices no more than RMB201,000/t (USD37.5/kg V) delivered D/A 180 days, and we had to drop our prices to adapt to the current market," said a producer in North China. They just sold 20t of vanadium nitride at this price level this Tuesday. However, they refused to sell at any prices below RMB203,000/t (USD37.9/kg V) just one week ago. Prices of vanadium pentoxide flake 98%min they inquired also dropped by RMB2,500/t (USD0.2/lb V2O5) from one week ago to the latest around RMB135,500/t (USD9/lb V2O5) EXW D/P. Considering that raw material prices started to loosen, they expect that the mainstream prices of Chinese vanadium nitride would drop to around RMB200,000/t (USD37.3/kg V) in the coming week.
With an annual production capacity of 1,400t, the producer produced about 520t in 2022 and about 80t in the first two months of 2023. They expect to produce about 50t this month, the same as February, holding around 30t of inventories for the moment, unchanged MoM.
"Our regular clients reduced their monthly consumption from 400tpm to the current 100tpm, which seriously reduced our confidence. In order to promote sales, we could accept RMB202,000/t (USD37.7/kg V) delivered D/A 180 days now," said a producer in North China. They last sold 20t of vanadium nitride at RMB205,000/t (USD38.3/kg V) about one week ago. In view of the high inventory pressure, they believe that the mainstream prices of Chinese vanadium nitride would edge down in the following week.
With an annual production capacity of 10,000t, they produced about 7,150t in 2022 and about 200t in the first two months of 2023. They expect to produce about 100t this month, almost the same as last month. They have around 100t of stocks for the moment, unchanged MoM.
