Chinese PrNd mischmetal suppliers bearish about price trends
2023-03-06 08:28:54 [Print]
BEIJING (Asian Metal) 6 Mar 23 - Dragged by consumers' wait-and-see attitudes, the Chinese PrNd mischmetal market witnessed slow buying activities over the past week. The current Chinese PrNd mischmetal mainstream prices slid to RMB770,000-790,000/t (USD111,496-114,392/t) EXW T/T 30 days, a decline of around RMB40,000/t (USD5,792/t) from one week ago. As consumers postpone procurements, insiders forecasted that the Chinese PrNd mischmetal mainstream prices would decline further in the upcoming week.
A producer in South China predicted that the Chinese PrNd mischmetal mainstream prices still have room to move down in the upcoming week due to soft demand from buyers and dropping PrNd oxide prices. He lowers PrNd mischmetal quotation to about RMB800,000/t (USD115,840/t) EXW T/T 30 days and considers selling at around RMB790,000/t (USD114,392/t) now, while he refused to sell at prices below RMB830,000/t (USD120,184/t) one week ago. He concluded his latest sale two days ago, when he sold five tons at around RMB805,000/t (USD116,564/t). "I could purchase PrNd oxide at around RMB640,000/t (USD92,672/t) EXW D/P now, while I had difficulty in purchasing at prices below RMB690,000/t (USD99,912/t) one week ago," said the producer.
With an annual production capacity of 5,000t of PrNd mischmetal, the producer expects an output of around 300t this month, down by 50t MoM. He produced approximately 3,500t and 700t respectively last year and so far this year. He holds an inventory of around 300t now, in line with early March.
Another producer in South China forecasted that the Chinese PrNd mischmetal mainstream prices would go down by around RMB20,000/t (USD2,896/t) in the coming week as consumers purchase inactively. He quotes about RMB790,000/t (USD114,392/t) EXW T/T 30 days and has intention to sell at around RMB780,000/t (USD112,944/t) now, while he didn't consider selling at prices below RMB830,000/t (USD120,184/t) one week ago. "I last sold two tons at around RMB820,000/t (USD118,736/t) early last week," said the producer, who failed to receive any inquiries from spot buyers over the past week and lacks confidence towards the PrNd mischmetal demand outlook in the coming week.
The producer, with an annual production capacity of 3,500t of PrNd mischmetal, produced about 360t so far in 2023, compared with approximately 2,200t in 2022. He estimates to produce about 160t in March, a decrease of around 20t MoM. He doesn't hold inventory at the moment, unchanged MoM.
A producer in South China predicted that the Chinese PrNd mischmetal mainstream prices still have room to move down in the upcoming week due to soft demand from buyers and dropping PrNd oxide prices. He lowers PrNd mischmetal quotation to about RMB800,000/t (USD115,840/t) EXW T/T 30 days and considers selling at around RMB790,000/t (USD114,392/t) now, while he refused to sell at prices below RMB830,000/t (USD120,184/t) one week ago. He concluded his latest sale two days ago, when he sold five tons at around RMB805,000/t (USD116,564/t). "I could purchase PrNd oxide at around RMB640,000/t (USD92,672/t) EXW D/P now, while I had difficulty in purchasing at prices below RMB690,000/t (USD99,912/t) one week ago," said the producer.
With an annual production capacity of 5,000t of PrNd mischmetal, the producer expects an output of around 300t this month, down by 50t MoM. He produced approximately 3,500t and 700t respectively last year and so far this year. He holds an inventory of around 300t now, in line with early March.
Another producer in South China forecasted that the Chinese PrNd mischmetal mainstream prices would go down by around RMB20,000/t (USD2,896/t) in the coming week as consumers purchase inactively. He quotes about RMB790,000/t (USD114,392/t) EXW T/T 30 days and has intention to sell at around RMB780,000/t (USD112,944/t) now, while he didn't consider selling at prices below RMB830,000/t (USD120,184/t) one week ago. "I last sold two tons at around RMB820,000/t (USD118,736/t) early last week," said the producer, who failed to receive any inquiries from spot buyers over the past week and lacks confidence towards the PrNd mischmetal demand outlook in the coming week.
The producer, with an annual production capacity of 3,500t of PrNd mischmetal, produced about 360t so far in 2023, compared with approximately 2,200t in 2022. He estimates to produce about 160t in March, a decrease of around 20t MoM. He doesn't hold inventory at the moment, unchanged MoM.
