PrNd oxide price to slide slightly
2014-03-25 11:22:00 [Print]
BEIJING (Asian Metal) 25 Mar 14 - Producers disclosed to Asian Metal that PrNd oxide market continues to see slow buying activities due to soft demand and they predict the prices will slide slightly in the near term.
According to a source from a separation plant in South China, PrNd oxide market sees few transactions at present and consumers adopt hand-to-mouth purchases. The source noted that NdFeB magnets market shows no signs of rebounding and demand for PrNd related products keeps soft. PrNd oxide and mischmetal inquiries are few in the spot market. PrNd oxide price is around RMB330,000/t (USD53,097/t) now, without much change from that of last weekend. While the source thinks the price will go down a bit in the coming days due to weak demand.
The source, whose plant produces around 50 tons of PrNd oxide per month, also expressed that the national storage policy hasn’t been carried out, which also depresses producers and they doubt whether PrNd oxide market will show any signs of rebounding in the near term.
A source from another separation plant in South China also noted that PrNd oxide prices, which are hovering at RMB330,000-335,000/t (USD53,097-53,902/t), will decrease a bit in the near term as demand fails to show signs of rebounding now. “NdFeB magnets market keeps flat, which makes consumers for PrNd related products to hold wait-and-see attitudes.Therefore, PrNd oxide deals are few and I think the prices will slide in the near future,” added the source.
The source also claimed that the plant produces 40-45 tons of PrNd oxide per month, and her last small deal of the material was concluded at RMB330,000/t (USD53,097/t) a few days ago.
