Chinese gallium metal market sees limited deals
2023-03-07 08:33:33 [Print]
BEIJING (Asian Metal) 7 Mar 23 - Chinese gallium metal 99.99%min market saw limited deals over the past week considering that most downstream consumers held back from purchasing with soft demand. Currently, the mainstream prices of Chinese gallium metal 99.99%min move down by RMB30/kg (USD4.33/kg) from the end of last week to RMB1,850-1,900/kg (USD267-274/kg) EXW D/P. Market participants believe that the prevailing prices of Chinese gallium metal 99.99%min would continue going down in the coming week in view of lower prices from suppliers, who generally keep in a hurry to compete for orders with bearish attitudes towards the market.
A North-China-based trader noted that, "We only sold around 200kg of gallium metal 99.99%min totally last week as most of our consumers refused to build stocks with soft demand, while we usually could sell more than 1t a week before." They still did not receive any inquiries this Monday and prefer to move down the price to RMB1,900/kg (USD274/kg) EXW T/T 30 days for firm bids. They last sold around 200kg at RMB1,940/kg (USD280/kg) EXW T/T 30 days last Wednesday. They forecast that the mainstream prices of Chinese gallium metal 99.99%min would go down further in the coming week due to limited deals in the spot market.
The trader, based on a regular monthly trading volume of 4t of gallium metal 99.99%min, expects to sell 2t this month and sold around 2.5t last month. They hold around 500kg of stocks now, unchanged from late last month. They sold around 50t in 2022 and around 5.5t so far in 2023.
"We cleaned our stock of gallium metal 99.99%min since the end of April as we hold no confidence about the market and only sold around 200kg totally last month," a source from Northern China disclosed, adding that they usually could sell more than 800kg a month before. They offer RMB1,850/kg (USD267/kg) EXW D/P for gallium metal 99.99%min now and refuse to lower the price even for firm bids, while they still refused to sell below RMB2,000/kg (USD289/kg) EXW D/P one week ago. They last sold around 100kg at RMB2,000/kg (USD289/kg) EXW D/P late December. They believe that the mainstream prices of Chinese gallium metal 99.99%min would stay soft next week due to decreasing prices from producers.
The trader, having a regular monthly trading volume of 500kg of gallium metal 99.99%min, holds no stock now, in line with the end of last month. They expect to sell about 200kg this month and only sold around 200kg last month. They sold around 6t in 2022 and around 800kg so far in 2023.
A North-China-based trader noted that, "We only sold around 200kg of gallium metal 99.99%min totally last week as most of our consumers refused to build stocks with soft demand, while we usually could sell more than 1t a week before." They still did not receive any inquiries this Monday and prefer to move down the price to RMB1,900/kg (USD274/kg) EXW T/T 30 days for firm bids. They last sold around 200kg at RMB1,940/kg (USD280/kg) EXW T/T 30 days last Wednesday. They forecast that the mainstream prices of Chinese gallium metal 99.99%min would go down further in the coming week due to limited deals in the spot market.
The trader, based on a regular monthly trading volume of 4t of gallium metal 99.99%min, expects to sell 2t this month and sold around 2.5t last month. They hold around 500kg of stocks now, unchanged from late last month. They sold around 50t in 2022 and around 5.5t so far in 2023.
"We cleaned our stock of gallium metal 99.99%min since the end of April as we hold no confidence about the market and only sold around 200kg totally last month," a source from Northern China disclosed, adding that they usually could sell more than 800kg a month before. They offer RMB1,850/kg (USD267/kg) EXW D/P for gallium metal 99.99%min now and refuse to lower the price even for firm bids, while they still refused to sell below RMB2,000/kg (USD289/kg) EXW D/P one week ago. They last sold around 100kg at RMB2,000/kg (USD289/kg) EXW D/P late December. They believe that the mainstream prices of Chinese gallium metal 99.99%min would stay soft next week due to decreasing prices from producers.
The trader, having a regular monthly trading volume of 500kg of gallium metal 99.99%min, holds no stock now, in line with the end of last month. They expect to sell about 200kg this month and only sold around 200kg last month. They sold around 6t in 2022 and around 800kg so far in 2023.
