Chinese vanadium nitride suppliers raise prices further
2024-04-29 08:13:46 [Print]
BEIJING (Asian Metal) 29 Apr 24 - As some steel mills accept purchase price at about RMB129,000/t (USD17,802/t) EXW D/A 180 days today, most suppliers hold optimistic attitudes and raise their prices further today. The current mainstream prices of Chinese vanadium nitride N 14%min stand at RMB122,000-125,000/t (USD16,425-16,839/t) EXW D/P, up by RMB3,000/t (USD414/t) from mid this week. As most producers stay in no hurry to sell at present with bullish attitudes, insiders predict that the prices would go up in the upcoming week.
A producer in Southeast China claimed that they quote vanadium nitride N 14%min at RMB126,000/t (USD17,388/t) EXW D/P and refuse to sell below RMB125,000/t (USD16,839/t) EXW D/P now. While they sold around 10t at RMB123,000/t ( USD16,974/t) EXW D/P in the middle of this week and close no deal until now. "Though we receive few inquiries this week, we prefer to hold back from selling now as some steel mills purchased at RMB129,000/t (USD17,802/t) EXW D/A 180 days today and we believe that more steel mills would accept such high price," noted the producer, who predicts that the prices would go up in the coming week.
With an annual production capacity of 2,000t, the producer would produce around 110t in April and produced about 1,000t last year. They have around 60t of inventory now.
Another producer in Northwest China mentioned that their offer for vanadium nitride N 14%min stays at RMB125,000/t (USD16,839/t) EXW D/P and they stay in no hurry to sell at lower prices presently. "We refused a firm bid for 10t at RMB122,000/t (USD16,425/t) EXW D/P three days ago even though we could accept the price then, because we held limited stocks and would like to wait and watch," explained the producer, who last sold around 10t to a trader at RMB120,000/t (USD16,560/t) early last week.
Based on an annual production capacity of 4,000t, they would produce around 200t this month, without much change from March. They produced 2,200t last year, holding about 30t in stock now.
A producer in Southeast China claimed that they quote vanadium nitride N 14%min at RMB126,000/t (USD17,388/t) EXW D/P and refuse to sell below RMB125,000/t (USD16,839/t) EXW D/P now. While they sold around 10t at RMB123,000/t ( USD16,974/t) EXW D/P in the middle of this week and close no deal until now. "Though we receive few inquiries this week, we prefer to hold back from selling now as some steel mills purchased at RMB129,000/t (USD17,802/t) EXW D/A 180 days today and we believe that more steel mills would accept such high price," noted the producer, who predicts that the prices would go up in the coming week.
With an annual production capacity of 2,000t, the producer would produce around 110t in April and produced about 1,000t last year. They have around 60t of inventory now.
Another producer in Northwest China mentioned that their offer for vanadium nitride N 14%min stays at RMB125,000/t (USD16,839/t) EXW D/P and they stay in no hurry to sell at lower prices presently. "We refused a firm bid for 10t at RMB122,000/t (USD16,425/t) EXW D/P three days ago even though we could accept the price then, because we held limited stocks and would like to wait and watch," explained the producer, who last sold around 10t to a trader at RMB120,000/t (USD16,560/t) early last week.
Based on an annual production capacity of 4,000t, they would produce around 200t this month, without much change from March. They produced 2,200t last year, holding about 30t in stock now.
