Vietnam Youngsun Tungsten Industry Puts Ammonium Metavanadate Into Pilot Production

BEIJING (Asian Metal) 17 May 19 – A source disclosed that the newly-built ammonium metavanadate production line of Vietnam Youngsun Tungsten Industry Co., Ltd. is in pilot production now, with an expected annual capacity of 3,000t. The company’s actual production schedule was delayed by nearly half a year compared with the plan.

“We originally planned to put the newly-built ammonium metavanadate production line into operation on December 15, 2018 but failed to do so due to equipment failure, with the date delayed till now. It was in pilot production in the middle of this month and is expected to produce 30t in May,” said a source from the company. He disclosed that the raw materials the company needs are mainly vanadium slag and vanadium scrap, which would be purchased mainly from China and surrounding countries after the company fully puts into production. At present, the ammonium metavanadate produced in this stage is mainly sold to Europe.

On Friday, mainstream prices for Chinese ammonium metavanadate 98%min held at RMB121,000-124,000/t (USD17,549-17,984/t) Inc-VAT EXW D/P, down by RMB3,000/t (USD435/t) from this Thursday. Owing to weak downstream demand, more than half of the domestic ammonium metavanadate producers have halted production. Insiders take a negative attitude towards the market and believe that mainstream prices for ammonium metavanadate 98%min in China would fall to less than RMB110,000/t (USD15,953/t) in the coming week.