Shaoguan Steel Finished Bidding For Vanadium Nitride At Low Price Level

BEIJING (Asian Metal) 22 Aug 19 – Guangdong Shaoguan Iron & Steel Co., Ltd. under Baowu Group completed its bidding for vanadium nitride on August 20 and purchased 80t of vanadium nitride at RMB195,000/t (USD35.9/kg V) Inc-VAT delivered D/P.

The bidding price is lower than market expectation for RMB10,000/t (USD1.8/kg V), which will absolutely bring downward pressure for vanadium market.

Currently, mainstream prices for Chinese vanadium nitride dropped to RMB201,000-204,000/t (USD37.0-37.5/kg V) EXW D/A 180 days, down by RMB24,000/t (USD4.4/kg V) from last week.