Benxi Beiying Finishes Bidding For Vanadium Nitride At Low Price Level

BEIJING (Asian Metal) 27 Aug 19 – Benxi Beiying Iron & Steel (Group) Co., Ltd. finished its bidding for vanadium nitride on August 26. They bought 20t at RMB196,000/t (USD35.6/kg V) Inc-VAT delivered D/A 180 days. The delivery will be made on September 30, 2019.

The bidding price is lower than market expectation for RMB4,000/t (USD1.8/kg V), which will bring downward pressure for vanadium market.

Currently, mainstream prices for Chinese vanadium nitride stand at RMB195,000-198,000/t (USD35.4-36.0/kg V) EXW D/A 180 days, down by RMB6,000/t (USD1.1/kg V) from last week. Considering downstream rebar market keeps soft, insiders believe prices of vanadium nitride would edge down in the coming week.