Chinese ammonium metavanadate prices decline
2023-04-23 08:11:56 [Print]
BEIJING (Asian Metal) 23 Apr 23 - As downstream vanadium product prices keep moving down, Chinese ammonium metavanadate prices couldn't get effective support and the market saw little confidence over the past week. Currently, the mainstream prices of Chinese ammonium metavanadate 98%min stay at RMB107,000-109,000/t (USD15.7-16/kg) EXW D/P, down by RMB8,000/t (USD1.2/kg) from late last week. Considering that most buyers prefer to watch the market and inquiries in spot market stay rare now, insiders believe that the mainstream prices of Chinese ammonium metavanadate 98%min would drop further in the coming week.
"Prices of vanadium pentoxide flake 98%min we inquired dropped to the latest RMB113,000/t (USD7.6/lb V2O5) EXW D/P, and we have to drop our ammonium metavanadate 98%min price accordingly to guarantee our basic profit," said a producer in North China. They last sold 20t of ammonium metavanadate 98%min at RMB112,000/t (USD16.4/kg) this Monday and refused to sell at any prices below RMB115,000/t (USD16.9/kg) last week. For the moment, they could accept RMB109,000/t (USD16/kg) for firm bids. Considering that downstream vanadium market couldn't offer any effective support, insiders believe that the mainstream prices of Chinese ammonium metavanadate 98%min would drop to around RMB100,000/t (USD14.7/kg) in the coming week.
With an annual production capacity of 1,200t, they produced about 550t in 2022 and about 120t in the first three months of 2023. They expect to produce about 40t this month, down by about 20t from last month due to the high inventory pressure. They have around 60t of stocks now, down by about 20t MoM.
"In view of the dropping vanadium alloy prices, our regular clients all prefer to watch the market now. In order to guarantee our monthly sales volume, we could accept RMB109,000/t (USD16/kg) EXW D/P for firm bids of ammonium metavanadate 98%min now," said a producer in South China. They just sold 15t of ammonium metavanadate 98%min at this price level late this week. However, their regular clients could accept RMB115,000/t (USD16.9/kg) just one week before. In view of the dropping vanadium pentoxide flake 98%min prices, they predict that the mainstream prices of Chinese ammonium metavanadate 98%min would drop below RMB105,000/t (USD15.4/kg) in the following week.
With an annual production capacity of 1,200t, they produced about 700t in 2022 and about 180t so far this year. They expect to produce around 60t this month, almost the same as last month, holding nearly 20t of stocks for the moment, up by about 20t MoM.
"Prices of vanadium pentoxide flake 98%min we inquired dropped to the latest RMB113,000/t (USD7.6/lb V2O5) EXW D/P, and we have to drop our ammonium metavanadate 98%min price accordingly to guarantee our basic profit," said a producer in North China. They last sold 20t of ammonium metavanadate 98%min at RMB112,000/t (USD16.4/kg) this Monday and refused to sell at any prices below RMB115,000/t (USD16.9/kg) last week. For the moment, they could accept RMB109,000/t (USD16/kg) for firm bids. Considering that downstream vanadium market couldn't offer any effective support, insiders believe that the mainstream prices of Chinese ammonium metavanadate 98%min would drop to around RMB100,000/t (USD14.7/kg) in the coming week.
With an annual production capacity of 1,200t, they produced about 550t in 2022 and about 120t in the first three months of 2023. They expect to produce about 40t this month, down by about 20t from last month due to the high inventory pressure. They have around 60t of stocks now, down by about 20t MoM.
"In view of the dropping vanadium alloy prices, our regular clients all prefer to watch the market now. In order to guarantee our monthly sales volume, we could accept RMB109,000/t (USD16/kg) EXW D/P for firm bids of ammonium metavanadate 98%min now," said a producer in South China. They just sold 15t of ammonium metavanadate 98%min at this price level late this week. However, their regular clients could accept RMB115,000/t (USD16.9/kg) just one week before. In view of the dropping vanadium pentoxide flake 98%min prices, they predict that the mainstream prices of Chinese ammonium metavanadate 98%min would drop below RMB105,000/t (USD15.4/kg) in the following week.
With an annual production capacity of 1,200t, they produced about 700t in 2022 and about 180t so far this year. They expect to produce around 60t this month, almost the same as last month, holding nearly 20t of stocks for the moment, up by about 20t MoM.
