Date: Mar 19, 2018
BEIJING (Asian Metal) 19 Mar 18 – Affect by increased purchasing prices from steel mills, Chinese vanadium-nitrogen alloy producers generally probed up offers. Mainstream prices for Chinese vanadium-nitrogen alloy have risen to RMB295,000-298,000/t (USD60.59-61.21/kg V) delivered D/A six months now, up by RMB8,000/t (USD1.64/kg V) from last week. As large plants of raw material vanadium pentoxide raised prices slowly, profit margins of vanadium-nitrogen alloy expanded, so market participants believed that prices for vanadium products would not unilaterally move up continuously and expected that prices for Chinese vanadium-nitrogen alloy would be under adjustment at a high level in the coming week.
A producer in South China said, “Now purchasing prices for vanadium-nitrogen alloy from steel mills have risen to RMB295,000/t (USD60.59/kg V) delivered D/A six months and spot prices would move up again by RMB3,000/t (USD0.62/kg V) at least. The market seems to have developed a rule that once reaching RMB300,000/t (USD61.62/kg V), the price will fall back. I believe that prices for Chinese vanadium-nitrogen alloy would keep stable weakly in the coming week.” They offer RMB298,000/t (USD61.21/kg V) delivered D/A six months for vanadium-nitrogen alloy now, up by RMB8,000/t (USD1.64/kg V) from last week, but they have not concluded any deals at this price. They last sold 10t of vanadium-nitrogen alloy at RMB295,000/t (USD60.59/kg V) EXW D/A six months early last week.