Chinese neodymium metal prices decline
2023-03-02 08:28:51 [Print]
BEIJING (Asian Metal) 2 Mar 23 - Dragged by consumers' wait-and-see attitudes, the Chinese neodymium metal market witnesses limited buying activities over the past week. The current Chinese neodymium metal mainstream prices moved down to RMB865,000-875,000/t (USD125,944-127,400/t) EXW T/T 30 days, down by RMB45,000/t (USD6,552/t) from one week ago. Insiders forecasted that the Chinese neodymium metal mainstream prices would go down further in the upcoming week as buyers purchase inactively and producers' costs still show downtrend.
A producer in South China claimed that he lowers neodymium metal quotation to around RMB880,000/t (USD128,128/t) EXW T/T 30 days and considers selling at about RMB870,000/t (USD126,672/t) at present, while he had no intention to sell at prices below RMB920,000/t (USD133,951/t) one week ago. "I failed to conclude any deals after my latest sale of two tons at around RMB950,000/t (USD138,320/t) in mid-February," said the producer, who could purchase neodymium oxide 99.5%min at about RMB710,000/t (USD103,376/t) EXW D/P now, while he had difficulty in buying at prices below RMB740,000/t (USD107,744/t) one week ago. Given that buyers delay purchasing and neodymium oxide 99.5%min prices show downtrend, he forecasted that the Chinese neodymium metal mainstream prices would go down by around RMB10,000/t (USD1,456/t) in the upcoming week.
With an annual production capacity of 240t of neodymium metal, the producer expects an output of around 10t this month, down by five tons MoM. His outputs in 2022 and so far in 2023 recorded approximately 180t and 25t respectively. He holds an inventory of around five tons now, in line with one month ago.
A consumer in North China noted that their regular suppliers quote about RMB870,000/t (USD126,672/t) EXW T/T 30 days for neodymium metal to him at present. Based on their experience, they could buy at around RMB865,000/t (USD125,944/t) at the moment, while they had difficulties in purchasing at prices below RMB910,000/t (USD132,496/t) one week ago. They concluded their latest procurement in mid-February, when they bought two tons at around RMB940,000/t (USD136,864/t). "Dragged by poor demand from end users, we have no plan to purchase neodymium metal again in the coming week," said the consumer, who foresaw further price declines in the Chinese neodymium market in the upcoming week.
The consumer, with an annual consumption capacity of 120t of neodymium metal, consumed about five tons so far this year, compared with approximately 60t last year. They expect to use around three tons this month, without much change MoM. They hold no stock at present, unchanged MoM.
A producer in South China claimed that he lowers neodymium metal quotation to around RMB880,000/t (USD128,128/t) EXW T/T 30 days and considers selling at about RMB870,000/t (USD126,672/t) at present, while he had no intention to sell at prices below RMB920,000/t (USD133,951/t) one week ago. "I failed to conclude any deals after my latest sale of two tons at around RMB950,000/t (USD138,320/t) in mid-February," said the producer, who could purchase neodymium oxide 99.5%min at about RMB710,000/t (USD103,376/t) EXW D/P now, while he had difficulty in buying at prices below RMB740,000/t (USD107,744/t) one week ago. Given that buyers delay purchasing and neodymium oxide 99.5%min prices show downtrend, he forecasted that the Chinese neodymium metal mainstream prices would go down by around RMB10,000/t (USD1,456/t) in the upcoming week.
With an annual production capacity of 240t of neodymium metal, the producer expects an output of around 10t this month, down by five tons MoM. His outputs in 2022 and so far in 2023 recorded approximately 180t and 25t respectively. He holds an inventory of around five tons now, in line with one month ago.
A consumer in North China noted that their regular suppliers quote about RMB870,000/t (USD126,672/t) EXW T/T 30 days for neodymium metal to him at present. Based on their experience, they could buy at around RMB865,000/t (USD125,944/t) at the moment, while they had difficulties in purchasing at prices below RMB910,000/t (USD132,496/t) one week ago. They concluded their latest procurement in mid-February, when they bought two tons at around RMB940,000/t (USD136,864/t). "Dragged by poor demand from end users, we have no plan to purchase neodymium metal again in the coming week," said the consumer, who foresaw further price declines in the Chinese neodymium market in the upcoming week.
The consumer, with an annual consumption capacity of 120t of neodymium metal, consumed about five tons so far this year, compared with approximately 60t last year. They expect to use around three tons this month, without much change MoM. They hold no stock at present, unchanged MoM.
