Chinese ammonium metavanadate prices slump

Date: Nov 27, 2018

BEIJING (Asian Metal) 27 Nov 18 – At present, mainstream prices for Chinese ammonium metavanadate 98%min slump to RMB398,000-401,000/t (USD26.56-26.76/lb V) Inc-VAT EXW D/P, down by RMB39,000/t (USD2.60/lb V) from early last week. Most suppliers are lack of confidence. In order to make deals, they have to decrease prices. Considering the demand is weak, insiders believe prices would keep slumping in the coming week.

A producer in South China quotes ammonium metavanadate 98%min at RMB400,000/t (USD26.70/lb V) at present, down by RMB40,000/t (USD2.67/lb V) from last week. “We didn’t make deals in past week for lack of orders. We received one inquiry from one of our regular clients last Friday, who wants to buy 20t, but only would like to accept RMB370,000/t (USD24.70/lb V),” said the source. They didn’t close the deal for low prices. He added, they can accept a counteroffer of RMB2,000/t (USD0.13/lb V) at most. Their last deal was made two weeks ago, when they sold 30t at RMB450,000/t (USD30.04/lb V). Considering orders are scarce, he believes prices would continue dropping in the coming week.

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