Chinese Ammonium Metavanadate Market Stays Quiet

BEIJING (Asian Metal) 21 Nov 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min stand at RMB97,000-10,000/t (USD13.8-14.2/kg) Inc-VAT EXW D/P, up by RMB5,000/t (USD0.7/kg) from last week. Few suppliers would like to accept orders at low price level and the market inventory stays at high level. However, consumers only make purchase according to urgent need and the market keeps quiet. Insiders believe prices of ammonium metavanadate would keep steady in the coming week.

A producer in South China quotes their ammonium metavanadate 98%min at RMB100,000/t (USD14.2/kg) Inc-VAT EXW D/P and can accept RMB99,000/t (USD14.1/kg) for firm bids, up by RMB5,000/t (USD0.7/kg) from last week. “Our last deal was made this Tuesday, when we sold 20t at RMB88,000/t (USD12.5/kg) Ex-VAT EXW D/P,” said the source. He added, “We have about 100t of stocks and the cost keeps at RMB85,000/t (USD12.1/kg) Ex-VAT and another 100t at RMB90,000/t (USD12.8/kg) Ex-VAT.” Through they have high inventory pressure, considering the cost keeps high, he believes prices of this material would stay steady in the coming week.

With an annual production capacity of 720t, they produced 50t in October and expect 30t in November, holding 200t of stocks at the moment.

A trader in South China noted the lowest price for ammonium metavanadate 98%min he received stands at RMB97,000/t (USD13.8/kg) Inc-VAT EXW D/P now, up by RMB4,000/t (USD0.6/kg) from last week. “As the cost keeps high, few producers would like to sell at low price level now. I called three producers this Monday and learnt the inventory keeps high at 2,200t in total,” said the source. Their last deal was made early last Monday, when they sold 30t at RMB93,000/t (USD13.2/kg). Considering the inventory level keeps high, he believes prices of ammonium metavanadate would be steady in the coming week.

With a regular trading volume of 60tpm, they sold 600t in 2018 and have sold 450t this year. They expect to sell 40t in November, down by 20t from October, holding no stocks now, down by 30t from late last month.