China vanadium nitride price at 2-year low on oversupply

China’s vanadium nitride (VN) prices have fallen to its nearly two-year low, as supply has far exceeded the demand from the domestic steel mills, though speculative trading helped market sources said on Tuesday. Speculation by traders has helped prices recover since July, market sources shared.

As of October 28, China’s national VN price fell to Yuan 172,000/t including 13% VAT, or a new low since November 2017 after having declined since August 9 by Yuan 78,000/tonne ($11,050/t) or 31.2% over the period, after a 35% month-on-month surge over July 9-August 9,according to Mysteel’s database. China’s