Chinese suppliers raise PrNd oxide offers
2015-11-11 08:44:45 [Print]
BEIJING (Asian Metal) 11 Nov 15 - As China’s Ministry of Industry and Information Technology claimed to inspect and regulate rare earth comprehensive recovery and utilization plants, Chinese suppliers raised PrNd oxide offers to RMB256,000-258,000/t (USD40,252-40,566/t) by cash payment, up by around RMB3,000/t (USD472/t) from that of one week ago. Accordingly, the market prices rise by around RMB2,000/t (USD314/t) from that of late last week to around RMB253,000-255,000/t (USD39,780-40,094/t) by cash payment. However, the market remains dim and sees limited deals concluded. It is predicted that PrNd oxide offers will continue to go up a bit in the coming week as most insiders are watching whether the State Reserve Bureau will carry out national storage in the near term.
A producer in South China disclosed that current PrNd oxide price has moved up a bit since late last week. As far as he knows, current PrNd oxide price is around RMB255,000/t (USD40,094/t) by cash payment, up by around RMB2,000/t (USD314/t) compared with that of late last week. He noted that he sold around 20 tons of the material at prices above RMB260,000/t (USD40,881/t) by cash payment in mid-October. He said he is not going to sell the material at current price, and will keep watching the market.
The plant, whose annual production capacity is around 900 tons, usually produces about 40 tons of the material per month. He halted production in mid-August for overhaul and resumed production in October. He produces around 25 tons of the material now, and still holds around 30 tons of stocks.
A trader in South China claimed that suppliers raised their offers over the past week, while the market saw limited deals over the past four days. “Current PrNd oxide offers are RMB256,000-258,000/t (USD40,252-40,566/t) by cash payment, while the market price is around RMB254,000/t (USD39,937/t) by cash payment, up by around RMB2,000/t (USD314/t) compared with that of early last week,” said the producer, who noted that she has failed to conclude any deals so far this week. Most insiders keep watching the market, and she predicted that PrNd oxide price will continue to rise slightly as it is said that the national storage will be carried out in the coming days.
The trader, whose monthly trading volume of PrNd oxide is around 15 tons per month, disclosed that she sold around 10 tons of the material in October, and has around 15 tons of stocks now.
A producer in South China disclosed that current PrNd oxide price has moved up a bit since late last week. As far as he knows, current PrNd oxide price is around RMB255,000/t (USD40,094/t) by cash payment, up by around RMB2,000/t (USD314/t) compared with that of late last week. He noted that he sold around 20 tons of the material at prices above RMB260,000/t (USD40,881/t) by cash payment in mid-October. He said he is not going to sell the material at current price, and will keep watching the market.
The plant, whose annual production capacity is around 900 tons, usually produces about 40 tons of the material per month. He halted production in mid-August for overhaul and resumed production in October. He produces around 25 tons of the material now, and still holds around 30 tons of stocks.
A trader in South China claimed that suppliers raised their offers over the past week, while the market saw limited deals over the past four days. “Current PrNd oxide offers are RMB256,000-258,000/t (USD40,252-40,566/t) by cash payment, while the market price is around RMB254,000/t (USD39,937/t) by cash payment, up by around RMB2,000/t (USD314/t) compared with that of early last week,” said the producer, who noted that she has failed to conclude any deals so far this week. Most insiders keep watching the market, and she predicted that PrNd oxide price will continue to rise slightly as it is said that the national storage will be carried out in the coming days.
The trader, whose monthly trading volume of PrNd oxide is around 15 tons per month, disclosed that she sold around 10 tons of the material in October, and has around 15 tons of stocks now.
PrNd Oxide Pr6O11 25%, Nd2O3 75% EXW China
Unit:RMB/mt
China's praseodymium-neodymium oxide producers' inventory statistics by province by month
Unit: mt
