Chinese ammonium metavanadate prices decline
2024-03-20 08:28:16 [Print]
BEIJING (Asian Metal) 20 Mar 24 - Chinese ammonium metavanadate 98%min suppliers lowered prices in order to gain orders among furious competition over the past week. As a consequence, the current Chinese ammonium metavanadate 98%min mainstream prices declined to RMB79,500-81,500/t (USD11,043-11,321/t) EXW D/P, a decrease of around RMB2,500/t (USD347/t) from one week ago. Given the weak demand from consumers, insiders forecasted that the Chinese ammonium metavanadate 98%min mainstream prices would drop further in the coming week.
A producer in Hebei province revealed that he lowered ammonium metavanadate 98%min quotation to about RMV81,000/t (USD11,251/t) EXW D/P and had intention to sell at around RMB80,000/t (USD11,112/t) today, while he refused to sell at prices below RMB84,000/t (USD11,668/t) one week ago. "I concluded my latest sale yesterday, when I sold 30t at around RMB80,000/t (USD11,668/t)," said the producer, adding that he concluded only one deal over the past two weeks. He lacked confidence towards the ammonium metavanadate 98%min demand and had intention to mark down prices further in order to compete orders among drastic competition. He forecasted that the Chinese ammonium metavanadate 98%min mainstream prices would move down by about RMB2,000/t (USD278/t) in the coming week.
The producer, on basis of an annual production capacity of 1,800t of ammonium metavanadate 98%min, produced approximately 850t and 120t respectively in 2023 and so far in 2024. He expected an output of around 100t in March, compared with no output in February. He holds an inventory of around 450t now, up by 50t MoM.
A producer in Shandong province claimed that he quoted about RMB82,000/t (USD11,390/t) EXW D/P for ammonium metavanadate 98%min and considered selling at prices not lower than RMB81,500/t (USD11,321/t) this Tuesday, while he refused to sell at prices below RMB84,000/t (USD11,668/t) one week ago. He last sold 50t at around RMB1,500/t (USD11,321/t) the day before yesterday. "Most of my clients purchased inactively over the past week, so my current ammonium metavanadate 98%min stocks rose by around 100t MoM," said the producer, who forecasted that the Chinese ammonium metavanadate 98%min market would witness further price decrease in the upcoming week.
With an annual production capacity of 6,500t of ammonium metavanadate 98%min, the consumer estimated to produce around 400t this month, without much change MoM. He produced about 1,000t so far this year, compared with approximately 5,800t last year. He has around 400t of stocks at the moment, an increase of by 100t MoM.
A producer in Hebei province revealed that he lowered ammonium metavanadate 98%min quotation to about RMV81,000/t (USD11,251/t) EXW D/P and had intention to sell at around RMB80,000/t (USD11,112/t) today, while he refused to sell at prices below RMB84,000/t (USD11,668/t) one week ago. "I concluded my latest sale yesterday, when I sold 30t at around RMB80,000/t (USD11,668/t)," said the producer, adding that he concluded only one deal over the past two weeks. He lacked confidence towards the ammonium metavanadate 98%min demand and had intention to mark down prices further in order to compete orders among drastic competition. He forecasted that the Chinese ammonium metavanadate 98%min mainstream prices would move down by about RMB2,000/t (USD278/t) in the coming week.
The producer, on basis of an annual production capacity of 1,800t of ammonium metavanadate 98%min, produced approximately 850t and 120t respectively in 2023 and so far in 2024. He expected an output of around 100t in March, compared with no output in February. He holds an inventory of around 450t now, up by 50t MoM.
A producer in Shandong province claimed that he quoted about RMB82,000/t (USD11,390/t) EXW D/P for ammonium metavanadate 98%min and considered selling at prices not lower than RMB81,500/t (USD11,321/t) this Tuesday, while he refused to sell at prices below RMB84,000/t (USD11,668/t) one week ago. He last sold 50t at around RMB1,500/t (USD11,321/t) the day before yesterday. "Most of my clients purchased inactively over the past week, so my current ammonium metavanadate 98%min stocks rose by around 100t MoM," said the producer, who forecasted that the Chinese ammonium metavanadate 98%min market would witness further price decrease in the upcoming week.
With an annual production capacity of 6,500t of ammonium metavanadate 98%min, the consumer estimated to produce around 400t this month, without much change MoM. He produced about 1,000t so far this year, compared with approximately 5,800t last year. He has around 400t of stocks at the moment, an increase of by 100t MoM.
