Chinese ammonium metavanadate prices edge down
2023-03-30 07:49:14 [Print]
BEIJING (Asian Metal) 30 Mar 23 - Due to the dropping vanadium alloy bidding prices, Chinese ammonium metavanadate producers hold weak mentality during the past week. Currently, the mainstream prices of Chinese ammonium metavanadate 98%min stand at RMB125,000-127,000/t (USD18.3-18.6/kg) EXW D/P, down by RMB1,000/t (USD0.1/kg) from late last week. Considering that most buyers prefer to watch the market and inquiries in spot market stay rare now, insiders predict that the mainstream prices of Chinese ammonium metavanadate 98%min would move down slightly in the coming week.
"Vanadium nitride bidding prices dropped below RMB200,000/t (USD38.1/kg V) delivered D/A 180 days, so we had to loosen our ammonium metavanadate 98%min price to promote sales. For firm bids, we could accept RMB125,000/t (USD18.3/kg V) EXW D/P now," said a producer in South China. They last sold 32t of ammonium metavanadate at RMB129,000/t (USD18.9/kg) early last week and didn't receive any new inquiries after that. Considering that their inventory pressure keeps increasing, they predict that the mainstream prices of Chinese ammonium metavanadate 98%min would stay below RMB125,000/t (USD18.3/kg) in the following week.
With an annual production capacity of 2,000t, they produced about 1,130t in 2022 and about 360t in the first two months of 2023. They expect to produce about 180t this month, the same as last month. They have around 30t of inventories for the moment, up by about 30t MoM.
"Prices of vanadium pentoxide flake 98%min prices we inquired dropped from RMB135,500/t (USD9.1/lb V2O5) EXW D/P one week ago to the latest around RMB132,000/t (USD8.9/lb V2O5), which reduced our confidence and we had to loosen our ammonium metavanadate 98%min price to promote sales," said a producer in North China. For firm bids, they could accept RMB127,000/t (USD18.6/kg) EXW D/P now. They just sold 20t of ammonium metavanadate 98%min at this price level this Tuesday. However, they refused to accept any orders at prices below RMB129,000/t (USD18.9/kg) one week ago. Considering that downstream vanadium market couldn't offer effective support, they expect that the mainstream prices of Chinese ammonium metavanadate 98%min would drop by around RMB2,000/t (USD0.3/kg) in the coming week.
With an annual production capacity of 2,400t, they produced about 770t in 2022 and about 180t in the first two months of 2023. They expect to produce around 80t this month, almost the same volume as last month, holding around 20t of inventories now, up by about 20t MoM.
"Vanadium nitride bidding prices dropped below RMB200,000/t (USD38.1/kg V) delivered D/A 180 days, so we had to loosen our ammonium metavanadate 98%min price to promote sales. For firm bids, we could accept RMB125,000/t (USD18.3/kg V) EXW D/P now," said a producer in South China. They last sold 32t of ammonium metavanadate at RMB129,000/t (USD18.9/kg) early last week and didn't receive any new inquiries after that. Considering that their inventory pressure keeps increasing, they predict that the mainstream prices of Chinese ammonium metavanadate 98%min would stay below RMB125,000/t (USD18.3/kg) in the following week.
With an annual production capacity of 2,000t, they produced about 1,130t in 2022 and about 360t in the first two months of 2023. They expect to produce about 180t this month, the same as last month. They have around 30t of inventories for the moment, up by about 30t MoM.
"Prices of vanadium pentoxide flake 98%min prices we inquired dropped from RMB135,500/t (USD9.1/lb V2O5) EXW D/P one week ago to the latest around RMB132,000/t (USD8.9/lb V2O5), which reduced our confidence and we had to loosen our ammonium metavanadate 98%min price to promote sales," said a producer in North China. For firm bids, they could accept RMB127,000/t (USD18.6/kg) EXW D/P now. They just sold 20t of ammonium metavanadate 98%min at this price level this Tuesday. However, they refused to accept any orders at prices below RMB129,000/t (USD18.9/kg) one week ago. Considering that downstream vanadium market couldn't offer effective support, they expect that the mainstream prices of Chinese ammonium metavanadate 98%min would drop by around RMB2,000/t (USD0.3/kg) in the coming week.
With an annual production capacity of 2,400t, they produced about 770t in 2022 and about 180t in the first two months of 2023. They expect to produce around 80t this month, almost the same volume as last month, holding around 20t of inventories now, up by about 20t MoM.
