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 99.5%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.
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.
