Chinese vanadium-nitrogen alloy prices surge up
Date:Jun 5, 2018
BEIJING (Asian Metal) 5 Jun 18 – Mainstream transaction prices for Chinese vanadium-nitrogen alloy V77N16 stand at RMB287,000-290,000/t (USD58.07-58.67/kg V) Inc-VAT delivered D/A six months now, up sharply by RMB9,000/t (USD1.82/kg V) from last week, reversing the embarrassing situation of price inversion. Suppliers continuously tried raising offers and some have raised the price to RMB295,000/t (USD59.69/kg V) EXW D/A six months. Market participants hold strong intentions to expect the prices up and it is expected that prices for Chinese vanadium-nitrogen alloy would keep an uptrend in the coming week.
A producer in North China claimed that they offer RMB295,000/t (USD59.69/kg V) EXW D/A six months for vanadium-nitrogen alloy V77N16 now, but have not concluded any deals at this price. He said, “Steel mills concentrate to make purchases at the beginning and end of one month, leading to sharp changes of vanadium-nitrogen alloy prices, and transaction volume and prices both kept surging up. We last sold 30t of vanadium-nitrogen alloy V77N16 at RMB290,000/t (USD58.67/kg V) delivered D/A six months in late May. Now steel mills are still opening biddings gradually and I expect that the transaction price would rise to RMB295,000/t (USD59.69/kg V) delivered D/A six months this week.”
