Tight supply in Chinese cadmium ingot market
2023-03-10 10:14:07 [Print]
BEIJING (Asian Metal) 10 Mar 23 - Chinese cadmium ingot 99.99%min market saw tight supply and most producers held limited stocks for selling and their output kept declining due to the raw material shortage. Currently, the mainstream prices of Chinese cadmium ingot 99.99%min increase to RMB31,500-32,000/t (USD2.05-2.08/lb) EXW D/P, up by RMB1,700/t (USD0.11/lb) from the end of last week. Market participants believe that the prevailing prices of Chinese cadmium ingot 99.99%min would go up further in the coming week considering that most producers tend to wait for higher prices now.
A producer in Northern China noted that, "We hold no cadmium ingot 99.99%min for selling at present and would expect to resume the production early April as soon as possible due to limited raw materials of cadmium." They hold no stock for selling since late last month. They last sold around 110t of cadmium ingot 99.99%min at RMB30,200/t (USD1.97/lb) EXW D/P at the end of February and most consumers would bid actively at a target price of RMB32,000/t (USD2.08/lb) EXW D/P now. However, the consumers still insisted on biding below RMB31,000/t (USD2.02/lb) EXW D/P one week ago. They forecast that the prevailing prices of Chinese cadmium ingot 99.99%min would stay rising next week supported by strong demand from consumers, while limited stocks in the spot market.
The producer, with a production capacity of 2,000tpy of cadmium ingot 99.99%min, halted the production since the end of December 2022. They produced about 110t in last December and about 400t totally in 2022. They hold no stock now, unchanged from the end of last month.
A consumer in Southern China mentioned that their regular suppliers generally hold no cadmium ingot 99.99%min for selling over the past two weeks and some producers who hold stocks even hold back from selling now, so the market sees tight supply. They would bid the materials at around RMB33,000/t (USD2.15/lb) EXW D/P now, while they could not bid the materials anywhere. They last purchased around 65t at RMB30,000/t (USD1.95/lb) EXW D/P in the middle of last month. The source said, "We believe that the prevailing prices of Chinese cadmium ingot 99.99%min would show an uptrend next week considering that producers' output keeps decreasing."
The consumer, based on a consumption capacity of 3,600tpy of cadmium ingot 99.99%min, expects to consume 80t this month, down by about 20t from last month as consumers generally refuse to accept higher prices. They hold around 100t of stocks now, unchanged from the end of last month. They consumed about 1,800t in 2022.
A producer in Northern China noted that, "We hold no cadmium ingot 99.99%min for selling at present and would expect to resume the production early April as soon as possible due to limited raw materials of cadmium." They hold no stock for selling since late last month. They last sold around 110t of cadmium ingot 99.99%min at RMB30,200/t (USD1.97/lb) EXW D/P at the end of February and most consumers would bid actively at a target price of RMB32,000/t (USD2.08/lb) EXW D/P now. However, the consumers still insisted on biding below RMB31,000/t (USD2.02/lb) EXW D/P one week ago. They forecast that the prevailing prices of Chinese cadmium ingot 99.99%min would stay rising next week supported by strong demand from consumers, while limited stocks in the spot market.
The producer, with a production capacity of 2,000tpy of cadmium ingot 99.99%min, halted the production since the end of December 2022. They produced about 110t in last December and about 400t totally in 2022. They hold no stock now, unchanged from the end of last month.
A consumer in Southern China mentioned that their regular suppliers generally hold no cadmium ingot 99.99%min for selling over the past two weeks and some producers who hold stocks even hold back from selling now, so the market sees tight supply. They would bid the materials at around RMB33,000/t (USD2.15/lb) EXW D/P now, while they could not bid the materials anywhere. They last purchased around 65t at RMB30,000/t (USD1.95/lb) EXW D/P in the middle of last month. The source said, "We believe that the prevailing prices of Chinese cadmium ingot 99.99%min would show an uptrend next week considering that producers' output keeps decreasing."
The consumer, based on a consumption capacity of 3,600tpy of cadmium ingot 99.99%min, expects to consume 80t this month, down by about 20t from last month as consumers generally refuse to accept higher prices. They hold around 100t of stocks now, unchanged from the end of last month. They consumed about 1,800t in 2022.
