Chinese Ammonium Metavanadate Prices Start to Rebound
BEIJING (Asian Metal) 6 Jun 19 – Currently, mainstream prices for Chinese ammonium metavanadate 98%min are RMB107,000-110,000/t (USD7.2-7.4/lb V) Inc-VAT EXW D/P, up by RMB4,000/t (USD0.3/lb V) from last week. As the production costs hold high, suppliers are active in raising their prices to test the market. Insiders believe Chinese ammonium metavanadate prices would keep rebounding in the coming week as the enquiries are active in downstream market.
A producer in Jiangxi said that his company now quotes RMB110,000/t (USD7.4/lb V) Inc-VAT EXW D/P for ammonium metavanadate 98%min and can accept RMB109,000/t (USD7.3/lb V) as the lowest for firm bids, up by RMB3,000/t (USD0.2/lb V) from last week. He said, “We have halted production for half a month as the ammonium metavanadate prices kept declining. Now, we mainly sell our inventory. Affected by the high production costs, we have to raise our quotation and don’t accept orders under current quotation.” The company last sold 20t of the material at RMB106,000/t (USD7.1/lb V) late last week. He believes Chinese ammonium metavanadate prices would rebound to RMB120,000/t (USD8.0/lb V) in the coming week.
With an annual production capacity of 720t, the company produced 40t in May and expects to produce the same amount in June, holding a stock of about 15t now.
A producer in Hunan said that his company now quotes RMB110,000/t (USD7.4/lb V) for ammonium metavanadate 98%min, up by RMB3,000/t (USD0.2/lb V) from last week. He said, “Pangang Group and Desheng, two large vanadium producers, have merged together; their total supply of vanadium pentoxide accounts for more than one half of the national supply and the resources are pooled together. Due to the merger, I believe prices would increase in the near future and we raise our ammonium metavanadate prices.” The company last sold 30t of ammonium metavanadate 98%min at RMB107,000/t (USD7.2/lb V) early last week. As the enquiries and purchases are active in market, he believes mainstream prices for Chinese ammonium metavanadate 98%min would generally rebound to above RMB115,000/t (USD7.7/lb V) in the coming week.
With an annual production capacity of 600t of ammonium metavanadate, the company produced 40t in May and expects to keep the output stable in June, holding no stocks now.
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