Palladium powder prices retreat on the Chinese market
2015-11-04 09:28:53 [Print]
BEIJING (Asian Metal) 4 Nov 15 - Palladium powder prices retreated gradually these days, due to the strengthening US dollar and the weak demand from consumers. Market participants predicted that the prices may soften further in the coming days.
A source from a Shanghai-based trading company reported that they sold around 1kg of palladium powder 99.95%min at around RMB150/g (USD736.93/oz) on Tuesday, down by around RMB3-4/g (USD14.74-19.65/oz) compared with Monday. “As our clients’ purchase volume is usually very small, only around 1-2kg per month, our offers are around RMB2-3/g (USD9.83-14.74/oz) higher than the prevailing prices on the spot market,” said the source. “The prevailing offers for the material are around RMB147-148/g (USD722.19-727.11/oz) on Tuesday.”
The trader holds around 3-4kg of the material in stock. He predicted that the palladium powder prices may retreat further in the coming days, as the prices increased too fast during September and October and demand for the metal remained very sluggish on the spot market.
A Jiangsu-based palladium powder consumer reported that the trading was slow on the palladium powder market these days, as the demand remained weak while the declining prices drove buyers to watch the market.
The source said that they purchased around 10kg of palladium powder 99.95%min at RMB147/g (USD722.19/oz) on Tuesday, down from around RMB151-152/g (USD741.85-746.76/oz) on Monday. “As both suppliers and consumers will be under financial pressures at the year-end, they will reduce inventories to increase capitals. Therefore, the supply of the material may increase further on the spot market and the prices may soften continuously in the coming weeks,” said the source.
The source revealed that they could consume around 200kg of palladium powder per month last year, but the consumption for the material is only around 50-60kg this year, due to the gloomy oil market and the whole economy.
A source from a Shanghai-based trading company reported that they sold around 1kg of palladium powder 99.95%min at around RMB150/g (USD736.93/oz) on Tuesday, down by around RMB3-4/g (USD14.74-19.65/oz) compared with Monday. “As our clients’ purchase volume is usually very small, only around 1-2kg per month, our offers are around RMB2-3/g (USD9.83-14.74/oz) higher than the prevailing prices on the spot market,” said the source. “The prevailing offers for the material are around RMB147-148/g (USD722.19-727.11/oz) on Tuesday.”
The trader holds around 3-4kg of the material in stock. He predicted that the palladium powder prices may retreat further in the coming days, as the prices increased too fast during September and October and demand for the metal remained very sluggish on the spot market.
A Jiangsu-based palladium powder consumer reported that the trading was slow on the palladium powder market these days, as the demand remained weak while the declining prices drove buyers to watch the market.
The source said that they purchased around 10kg of palladium powder 99.95%min at RMB147/g (USD722.19/oz) on Tuesday, down from around RMB151-152/g (USD741.85-746.76/oz) on Monday. “As both suppliers and consumers will be under financial pressures at the year-end, they will reduce inventories to increase capitals. Therefore, the supply of the material may increase further on the spot market and the prices may soften continuously in the coming weeks,” said the source.
The source revealed that they could consume around 200kg of palladium powder per month last year, but the consumption for the material is only around 50-60kg this year, due to the gloomy oil market and the whole economy.
