Chinese vanadium nitride price increase
2024-04-28 08:39:12 [Print]
BEIJING (Asian Metal) 28 Apr 24 - Supported by the bid result of RMB125,000/t (USD17,252/t) EXW D/P from a steel mill, Chinese vanadium nitride N 14%min prices continue to go up this week. The current mainstream price increases to RMB122,000-125,000/t (USD16,425-16,839/t) EXW D/P, up by around RMB3,000/t (USD414/t) from last week. Insiders predict that the price would move up in the upcoming week.
A producer in North China illustrate that they raise the quotation for vanadium nitride N 14%min from RMB121,000/t (USD16,697/t) EXW D/P to RMB125,000/t (USD17,252/t) EXW D/P now. They last sold around 30t to their regular consumer at RMB120,800/t (USD16,669/t) one week ago. "We increase our quotation for the bid results of RMB122,000-125,000 (USD16,425-16,839/t) EXW D/P announced by some steel mills," explained the producer, who believes the price would continue to go up in the coming week.
Based on an annual production capacity of 2,000t, the producer produced around 100t this month, without much change from last month. They produced about 1,200t last year, holding about 70t in stock now.
A trader in North China claimed that he increases the offer for vanadium nitride N 14%min from RMB122,000/t (USD16,835/t) EXW D/P to RMB126,000/t (USD17,387/t) EXW D/P now. He sold around 10t at RMB122,000/t (USD16,835/t) EXW D/P early last week. "It is difficult for me to purchase lower than RMB122,000/t (USD16,835/t) EXW D/P at present, while before last week I can buy in at around RMB118,000/t (USD16,283/t) EXW D/P," said the trader, who holds a wait-and-see attitude on market.
With a typical trading volume of 100t, the trader sold about 50t this month and 500t last year. He almost has no inventory now.
A producer in North China illustrate that they raise the quotation for vanadium nitride N 14%min from RMB121,000/t (USD16,697/t) EXW D/P to RMB125,000/t (USD17,252/t) EXW D/P now. They last sold around 30t to their regular consumer at RMB120,800/t (USD16,669/t) one week ago. "We increase our quotation for the bid results of RMB122,000-125,000 (USD16,425-16,839/t) EXW D/P announced by some steel mills," explained the producer, who believes the price would continue to go up in the coming week.
Based on an annual production capacity of 2,000t, the producer produced around 100t this month, without much change from last month. They produced about 1,200t last year, holding about 70t in stock now.
A trader in North China claimed that he increases the offer for vanadium nitride N 14%min from RMB122,000/t (USD16,835/t) EXW D/P to RMB126,000/t (USD17,387/t) EXW D/P now. He sold around 10t at RMB122,000/t (USD16,835/t) EXW D/P early last week. "It is difficult for me to purchase lower than RMB122,000/t (USD16,835/t) EXW D/P at present, while before last week I can buy in at around RMB118,000/t (USD16,283/t) EXW D/P," said the trader, who holds a wait-and-see attitude on market.
With a typical trading volume of 100t, the trader sold about 50t this month and 500t last year. He almost has no inventory now.
