Chinese ammonium metavanadate prices drop

BEIJING (Asian Metal) 26 Mar 24 - Dragged by buyers' wait-and-see attitudes, the Chinese ammonium metavanadate 98%min market witnessed slow buying activities and dropping prices over the past week. Consequently, the current Chinese ammonium metavanadate 98%min mainstream prices declined to RMB77,500-79,500/t (USD10,745-11,022/t) EXW D/P, down by around RMB1,500/t (USD208/t) from one week ago.Asian Metal Copyright As consumers still purchase inactively and lower target prices, insiders forecasted that the Chinese ammonium metavanadate 98%min mainstream prices still have room to move down in the upcoming week.Asian Metal Copyright As consumers still purchase inactively and lower target prices, insiders forecasted that the Chinese ammonium metavanadate 98%min mainstream prices still have room to move down in the upcoming week.

A producer in Hebei province claimed that he lowered ammonium metavanadate 98%min quotation to about RMB80,000/t (USD11,092/t) EXW D/P and had intention to sell at prices not lower than RMB78,500/t (USD10,884/t) today, while he refused to sell at prices lower than RMB80,000/t (USD11,092/t) one week ago. He last sold 30t at around RMB82,000/t (USD11,369/t) early this month.Asian Metal Copyright Consequently, the current Chinese ammonium metavanadate 98%min mainstream prices declined to RMB77,500-79,500t USD10,745-11,022t EXW DP, down by around RMB1,500t USD208t from one week ago.Asian Metal Copyright "I got around three inquiries over the past week but failed to conclude any deals due to low target prices of consumers. Some of these clients even meant to purchase at around RMB76,000/t (USD10,537/t)," said the producer, who predicted that the Chinese ammonium metavanadate 98%min mainstream prices would move down by about RMB2,000/t (USD277/t) in the coming week.

With an annual production capacity of 2,400t of ammonium metavanadate 98%min, the producer's outputs in 2023 and so far in 2024 recorded approximately 1,250t and 320t respectively. He expected to produce around 90t in March, without much change MoM.Asian Metal Copyright .Asian Metal Copyright He holds an inventory of about 90t now, without much change MoM.

A consumer in Henan province disclosed that his regular ammonium metavanadate 98%min suppliers quoted about RMB79,000/t (USD10,953/t) EXW D/P for him this Monday. Based on his experience, he could replenish stocks at around RMB78,000/t (USD10,814/t) at the moment, while he faced great difficulty in buying at prices lower than RMB81,000/t (USD11,092/t) one week ago. "I concluded my latest procurement two weeks ago, when I bought 60t at around RMB84,000/t (USD11,646/t)," said the consumer, who has no intention to rebuild ammonium metavanadate 98%min stocks again due to soft demand of his vanadium pentoxide.Asian Metal Copyright "I got around three inquiries over the past week but failed to conclude any deals due to low target prices of consumers.Asian Metal Copyright Taking buyers' wait-and-see attitudes, he forecasted that the Chinese ammonium metavanadate 98%min mainstream prices would drop further in the coming week.

The consumer, on basis of an annual consumption capacity of 1,500t of ammonium metavanadate 98%min, expected to use around 70t this month, without much change MoM. He consumed about 200t so far this year, compared with approximately 500t last year.Asian Metal Copyright He expected to produce around 90t in March, without much change MoM.Asian Metal Copyright He has around 30t of stocks at present, a decrease of 30t MoM.

.Asian Metal Copyright He expected to produce around 90t in March, without much change MoMAsian Metal Copyright