Kunming Iron and Steel Announces Bidding Results For Vanadium Nitride

BEIJING (Asian Metal) 29 Apr 19 – Kunming Iron and Steel Group Co., Ltd. announced its bidding results for vanadium nitride last Sunday. The company invited bids for 71t of vanadium nitride in total, with the average purchasing price of RMB242,300/t (USD35,982/t) delivered D/P, down by RMB21,700/t (USD3,222/t) from that in late March.

The company last purchased 40t of vanadium nitride in late March, of which 20t were bought at RMB263,500/t (USD39,130/t) Inc-VAT delivered D/P and the other 20t at RMB264,500/t (USD39,278/t) Inc-VAT delivered D/P.

Vanadium prices bears downward pressure again as the purchase price this time was significantly lower than the expected one.

According to Asian Metal, most Chinese suppliers offer vanadium nitride at RMB258,000-261,000/t (USD38,313-38,753/t) EXW D/A 180 days, up by RMB3,000/t (USD446/t) from last week. Most market participants wait on the sidelines, predicting mainstream prices for Chinese vanadium nitride would be weakly stable in the coming week.