Chinese neodymium oxide price declines slightly further
2016-06-15 08:41:54 [Print]
BEIJING (Asian Metal) 15 Jun 16 - Chinese neodymium oxide 99.5%min market witnessed sliding price and slow buying activities over the past week. Current neodymium oxide 99.5%min mainstream prices stay at RMB262,000-263,000/t (USD39,818-39,970/t) by cash payment, down by RMB2,000/t (USD304/t) from those of one week ago. As the first batch of national storage meeting failed to bid, downstream consumers delay purchasing at the moment and insiders are of the opinion that neodymium oxide 99.5%min price will continue to slide a bit in the coming week.
A producer in South China disclosed that neodymium oxide 99.5%min market witnessed limited inquiries over the past week. “Current neodymium oxide 99.5%min price is 263,000/t (USD39,970/t) by cash payment now, with a decline of RMB2,000/t (USD304/t) from that of one week ago,” said the producer, who noted that he sold around 10 tons of the material at RMB265,000/t (USD40,274/t) by cash payment one week ago. As the downstream demand weakens, he believed that the neodymium oxide 99.5%min price will show downtrend in the coming week.
The separation plant, whose annual production capacity of neodymium oxide 99.5%min is around 600 tons, produced around 25 tons of the material in May. He still holds 30 tons of stocks now.
Another producer in South China claimed that neodymium oxide 99.5%min price slid a bit over the past week. “I have not sold neodymium oxide 99.5%min so far this month, and I received an inquiry of 5 tons of neodymium oxide 99.5%min at RMB262,000/t (USD39,818/t) by cash payment this week, with a decrease of RMB2,000/t (USD304/t) from that of last week,” said the producer, conveying that he can secure the sale within this week. Without support from rare earth national storage, he is pessimistic about the market in the following week.
With an annual production capacity of 500 tons of neodymium oxide 99.5%min, the separation plant produced 20 tons of the material in May. He has about 40 tons of stocks now and prefers to sell the material at current price level because of tight cash flow.
A producer in South China disclosed that neodymium oxide 99.5%min market witnessed limited inquiries over the past week. “Current neodymium oxide 99.5%min price is 263,000/t (USD39,970/t) by cash payment now, with a decline of RMB2,000/t (USD304/t) from that of one week ago,” said the producer, who noted that he sold around 10 tons of the material at RMB265,000/t (USD40,274/t) by cash payment one week ago. As the downstream demand weakens, he believed that the neodymium oxide 99.5%min price will show downtrend in the coming week.
The separation plant, whose annual production capacity of neodymium oxide 99.5%min is around 600 tons, produced around 25 tons of the material in May. He still holds 30 tons of stocks now.
Another producer in South China claimed that neodymium oxide 99.5%min price slid a bit over the past week. “I have not sold neodymium oxide 99.5%min so far this month, and I received an inquiry of 5 tons of neodymium oxide 99.5%min at RMB262,000/t (USD39,818/t) by cash payment this week, with a decrease of RMB2,000/t (USD304/t) from that of last week,” said the producer, conveying that he can secure the sale within this week. Without support from rare earth national storage, he is pessimistic about the market in the following week.
With an annual production capacity of 500 tons of neodymium oxide 99.5%min, the separation plant produced 20 tons of the material in May. He has about 40 tons of stocks now and prefers to sell the material at current price level because of tight cash flow.
Neodymium Oxide 99.5%min FOB China
Unit:USD/mt
China's praseodymium-neodymium oxide producers' operating rate statistics by province by month
Unit: %
