Chinese reduced ilmenite market sees inactive inquiries
2023-04-05 08:52:48 [Print]
BEIJING (Asian Metal) 5 Apr 23 - As most consumers remained cautious in placing orders, Chinese reduced ilmenite market witnessed inactive inquiries in the past week. The current mainstream prices of Chinese reduced ilmenite 56%min decreased to RMB5,300-5,400/t (USD771-786/t) EXW D/A 180 days, down by RMB50/t (USD7/t) from early last week. As most suppliers have no confidence in the market, insiders predict that the reduced ilmenite prices would decrease further in the coming week.
A producer in North China claimed that they received one inquiry so far this week, while they received two inquiries last week. They quote RMB5,500/t (USD799/t) EXW D/A 180 days for reduced ilmenite 56%min and could accept RMB5,400/t (USD786/t) for orders no less than 100t at present, while they could accept RMB5,450/t (USD792/t) for the same quantity when they offered RMB5,550/t (USD806/t) early last week. "We failed to conclude other deals after we last sold about 100t to a regular client at around RMB5,450/t (USD792/t) early last week," said the producer. Discouraged by inactive inquiries from downstream consumers, the producer plans to lower their price by around RMB50/t (USD7/t) next week and predicts that the mainstream prices would decrease by around RMB50/t (USD7/t) in the coming week.
The producer, with an annual production capacity of 50,000t, expects to produce around 3,000t in April, unchanged from last month. They produced nearly 28,800t in 2022 and around 8,000t so far in 2023. They hold about 2,000t of stocks now, down by 1,000t from last month.
"We received an inquiry of 500t at around RMB5,300/t (USD771/t) EXW D/A 180 days from a regular clients early last week, while we refused it at that time," said another producer in North China, who failed to receive any other inquiries since then. They called the client again and finally sold about 500t at around RMB5,300/t (USD771/t) to the client early this week. They offer RMB5,350/t (USD778/t) EXW D/A 180 days for reduced ilmenite 56%min and could accept RMB5,300/t (USD771/t) for orders no less than 500t at the moment, while they quoted RMB5,400/t (USD786/t) and could accept RMB5,350/t (USD778/t) for the same quantity early last week. As most consumers remain inactive in sending inquiries, the producer has no confidence in the market and predicts that the mainstream prices would decrease by around RMB50/t (USD7/t) in the following week.
With an annual production capacity of 30,000t, the producer expects to produce about 2,000t in April, unchanged from last month. They produced nearly 17,000t in 2022 and almost 5,000t so far in 2023. They hold around 500t of stocks now, unchanged from last month.
A producer in North China claimed that they received one inquiry so far this week, while they received two inquiries last week. They quote RMB5,500/t (USD799/t) EXW D/A 180 days for reduced ilmenite 56%min and could accept RMB5,400/t (USD786/t) for orders no less than 100t at present, while they could accept RMB5,450/t (USD792/t) for the same quantity when they offered RMB5,550/t (USD806/t) early last week. "We failed to conclude other deals after we last sold about 100t to a regular client at around RMB5,450/t (USD792/t) early last week," said the producer. Discouraged by inactive inquiries from downstream consumers, the producer plans to lower their price by around RMB50/t (USD7/t) next week and predicts that the mainstream prices would decrease by around RMB50/t (USD7/t) in the coming week.
The producer, with an annual production capacity of 50,000t, expects to produce around 3,000t in April, unchanged from last month. They produced nearly 28,800t in 2022 and around 8,000t so far in 2023. They hold about 2,000t of stocks now, down by 1,000t from last month.
"We received an inquiry of 500t at around RMB5,300/t (USD771/t) EXW D/A 180 days from a regular clients early last week, while we refused it at that time," said another producer in North China, who failed to receive any other inquiries since then. They called the client again and finally sold about 500t at around RMB5,300/t (USD771/t) to the client early this week. They offer RMB5,350/t (USD778/t) EXW D/A 180 days for reduced ilmenite 56%min and could accept RMB5,300/t (USD771/t) for orders no less than 500t at the moment, while they quoted RMB5,400/t (USD786/t) and could accept RMB5,350/t (USD778/t) for the same quantity early last week. As most consumers remain inactive in sending inquiries, the producer has no confidence in the market and predicts that the mainstream prices would decrease by around RMB50/t (USD7/t) in the following week.
With an annual production capacity of 30,000t, the producer expects to produce about 2,000t in April, unchanged from last month. They produced nearly 17,000t in 2022 and almost 5,000t so far in 2023. They hold around 500t of stocks now, unchanged from last month.
