Chinese neodymium oxide market sees weak demand
2023-03-07 08:10:04 [Print]
BEIJING (Asian Metal) 7 Mar 23 - Dragged by soft demand from consumers, the Chinese neodymium oxide 99
A producer in South China reported soft demand for neodymium oxide 99.5%min from his clients over the past week and his current stocks increased by around 10t MoM . He lowers neodymium oxide 99.5%min quotation to about RMB680,000/t (USD98,124/t) EXW D/P for neodymium oxide 99.5%min and considers selling at around RMB670,000/t (USD96,681/t) at present, while he refused to sell at prices below RMB720,000/t (USD103,896/t) one week ago . "I last sold 10t of neodymium oxide 99.5%min at about RMB780,000/t (USD112,554/t) in mid-February," said the producer, who failed to receive any neodymium oxide 99 . 5%min inquiries over the past two weeks . He forecasted that the Chinese neodymium oxide 99 . 5%min market would continue seeing sliding prices in the upcoming week due to consumers' wait-and-see attitudes.
With an annual production capacity of 500t of neodymium oxide 99.5%min, the producer expects an output of around 10t this month, without much change MoM . He produced approximately 82tand 20t respectively in 2022 and so far in 2023 . He holds an inventory of around 30t now, up by 10t MoM.
A producer in North China disclosed that he failed to received any neodymium oxide 99.5%min inquiries over the past week and his current inventories rose by around five tons MoM . He ceased offering quotation for neodymium oxide 99.5%min this week as his clients refused to buy at prices higher than RMB660,000/t (USD95,238/t) EXW D/P while he would lose money if he would sell at this price levels. But he could sell at about RMB720,000/t (USD103,896/t) one week ago. "I concluded my latest sale in late February, when I sold 10t at around RMB760,000/t (USD109,668/t)," said the producer, who lacks confidence towards the neodymium oxide 99 . 5%min demand outlook and forecasted that the Chinese neodymium oxide 99.5%min mainstream prices would go down by around RMB20,000/t (USD2,886/t) in the forthcoming week.
The producer, with an annual production capacity of 500t of neodymium oxide 99.5%min, produced about 10t so far this year, compared with around 100t last year . He estimates to produce around five tons this month, without much change MoM . He has about 30t of stocks now, compared with around 25t in early February.
. 5%min market witnessed slow buying activities over the past week . The current Chinese neodymium oxide 99.5%min mainstream prices declined to RMB660,000-680,000/t (USD95,238-98,124/t) EXW D/P, a decrease of around RMB50,000/t (USD7,215/t) from one week ago . Insiders forecasted that the Chinese neodymium oxide 99 . 5%min mainstream prices still have room to decline in the coming week as buyers purchase inactively.
A producer in South China reported soft demand for neodymium oxide 99.5%min from his clients over the past week and his current stocks increased by around 10t MoM . He lowers neodymium oxide 99.5%min quotation to about RMB680,000/t (USD98,124/t) EXW D/P for neodymium oxide 99.5%min and considers selling at around RMB670,000/t (USD96,681/t) at present, while he refused to sell at prices below RMB720,000/t (USD103,896/t) one week ago . "I last sold 10t of neodymium oxide 99.5%min at about RMB780,000/t (USD112,554/t) in mid-February," said the producer, who failed to receive any neodymium oxide 99 . 5%min inquiries over the past two weeks . He forecasted that the Chinese neodymium oxide 99 . 5%min market would continue seeing sliding prices in the upcoming week due to consumers' wait-and-see attitudes.
With an annual production capacity of 500t of neodymium oxide 99.5%min, the producer expects an output of around 10t this month, without much change MoM . He produced approximately 82tand 20t respectively in 2022 and so far in 2023 . He holds an inventory of around 30t now, up by 10t MoM.
A producer in North China disclosed that he failed to received any neodymium oxide 99.5%min inquiries over the past week and his current inventories rose by around five tons MoM . He ceased offering quotation for neodymium oxide 99.5%min this week as his clients refused to buy at prices higher than RMB660,000/t (USD95,238/t) EXW D/P while he would lose money if he would sell at this price levels. But he could sell at about RMB720,000/t (USD103,896/t) one week ago. "I concluded my latest sale in late February, when I sold 10t at around RMB760,000/t (USD109,668/t)," said the producer, who lacks confidence towards the neodymium oxide 99 . 5%min demand outlook and forecasted that the Chinese neodymium oxide 99.5%min mainstream prices would go down by around RMB20,000/t (USD2,886/t) in the forthcoming week.
The producer, with an annual production capacity of 500t of neodymium oxide 99.5%min, produced about 10t so far this year, compared with around 100t last year . He estimates to produce around five tons this month, without much change MoM . He has about 30t of stocks now, compared with around 25t in early February.