Chinese ammonium metavanadate prices slide
2024-03-12 08:29:45 [Print]
BEIJING (Asian Metal) 12 Mar 24 - Dragged by weak demand and decreasing target prices of consumers, Chinese ammonium metavanadate 98%min suppliers marked down prices over the past week. Therefore, the current ammonium metavanadate 98%min mainstream prices dropped to RMB82,000-84,500/t (USD11,412-11,760/t) EXW D/P, a decrease of around RMB1,000/t (USD139/t) from one week ago. Given that suppliers prefer to hold stocks rather than mark down prices further, insiders forecasted that the Chinese ammonium metavanadate 98%min mainstream prices would stay at current levels in the coming week.
A producer in South China revealed that he lowered ammonium metavanadate 98%min quotation to around RMB86,000/t (USD11,969/t) EXW D/P and considered selling at about RMB85,000/t (USD11,829/t) but he faced difficulties in selling at prices higher than RMB84,000/t (USD11,690/t) this Monday, while he could sell at about RMB85,000/t (USD11,829/t) one week ago. He concluded his latest sale early this month, when he sold 30t at around RMB85,000/t (USD11,829/t). "I already faced great difficulties in gaining margins at current price levels and preferred to hold inventories rather than mark down prices," said the producer, who predicted that the Chinese ammonium metavanadate 98%min mainstream prices would hover at current levels in the coming week.
The producer, on basis of an annual production capacity of 3,000t of ammonium metavanadate 98%min, produced about 230t so far this year, compared with approximately 2,200t last year. He estimated an output of around 180t this month, up by 130t MoM. He holds an inventory of around 50t now, an increase of 30t MoM.
Another producer in South China disclosed that he quoted about RMB85,000/t (USD11,829/t) EXW D/P for ammonium metavanadate 98%min and had intention to sell at around RMB84,000/t (USD11,690/t) today, while his clients refused to buy at prices higher than RMB82,000/t (USD11,412/t) from him. He could sell at about RMB84,000/t (USD11,690/t) one week ago, when he concluded his latest sale of 20t at around RMB84,000/t (USD11,690/t). "I already lose money on current price levels and had no intention to make concession on prices further," sad the producer, who predicted that the Chinese ammonium metavanadate 98%min mainstream prices would level off in the upcoming week.
With an annual production capacity of 2,000t of ammonium metavanadate 98%min, the producer expected an output of around 100t this month, up by 80t MoM. He produced about 1,700t and 150t respectively last year and so far this year. He has around 100t of stocks at present, up by 50t MoM.
A producer in South China revealed that he lowered ammonium metavanadate 98%min quotation to around RMB86,000/t (USD11,969/t) EXW D/P and considered selling at about RMB85,000/t (USD11,829/t) but he faced difficulties in selling at prices higher than RMB84,000/t (USD11,690/t) this Monday, while he could sell at about RMB85,000/t (USD11,829/t) one week ago. He concluded his latest sale early this month, when he sold 30t at around RMB85,000/t (USD11,829/t). "I already faced great difficulties in gaining margins at current price levels and preferred to hold inventories rather than mark down prices," said the producer, who predicted that the Chinese ammonium metavanadate 98%min mainstream prices would hover at current levels in the coming week.
The producer, on basis of an annual production capacity of 3,000t of ammonium metavanadate 98%min, produced about 230t so far this year, compared with approximately 2,200t last year. He estimated an output of around 180t this month, up by 130t MoM. He holds an inventory of around 50t now, an increase of 30t MoM.
Another producer in South China disclosed that he quoted about RMB85,000/t (USD11,829/t) EXW D/P for ammonium metavanadate 98%min and had intention to sell at around RMB84,000/t (USD11,690/t) today, while his clients refused to buy at prices higher than RMB82,000/t (USD11,412/t) from him. He could sell at about RMB84,000/t (USD11,690/t) one week ago, when he concluded his latest sale of 20t at around RMB84,000/t (USD11,690/t). "I already lose money on current price levels and had no intention to make concession on prices further," sad the producer, who predicted that the Chinese ammonium metavanadate 98%min mainstream prices would level off in the upcoming week.
With an annual production capacity of 2,000t of ammonium metavanadate 98%min, the producer expected an output of around 100t this month, up by 80t MoM. He produced about 1,700t and 150t respectively last year and so far this year. He has around 100t of stocks at present, up by 50t MoM.
