Chinese praseodymium oxide prices move down
2023-03-09 08:10:07 [Print]
BEIJING (Asian Metal) 9 Mar 23 - The Chinese praseodymium oxide 99.5%min market witnessed slow buying activities over the past week due to soft demand from consumers. The current Chinese praseodymium oxide 99.5%min mainstream prices declined to RMB620,000-640,000/t (USD89,032-91,904/t) EXW D/P, down by around RMB50,000/t (USD7,180/t) from one week ago. Insiders forecasted that the Chinese praseodymium oxide 99.5%min mainstream prices would slide further in the upcoming week as consumers purchase inactively.
A producer in South China disclosed that he lowers praseodymium oxide 99.5%min quotation to about RMB640,000/t (USD91,904/t) EXW D/P and has intention to sell at around RMB630,000/t (USD90,468/t) now, while he didn't consider selling at prices below RMB680,000/t (USD97,648/t) one week ago. "I last sold three tons at around RMB700,000/t (USD100,520/t) in late February," said the producer, who failed to receive any inquiries over the past week. He lacks confidence towards the praseodymium oxide 99.5%min demand outlook and forecasted that the Chinese praseodymium oxide 99.5%min mainstream prices still have room to go down in the forthcoming week.
With an annual production capacity of 276t of praseodymium oxide 99.5%min, the producer expects an output of around five tons this month, down by eight tons MoM. His outputs in 2022 and so far in 2023 recorded approximately 90t and 18t respectively. He holds an inventory of around four tons now, down by five tons MoM.
Another producer in South China noted that he quotes around RMB640,000/t (USD91,904/t) EXW D/P for praseodymium oxide 99.5%min and refuses to accept any counteroffer now, while he has difficulty in selling at prices below RMB620,000/t (USD89,032/t) now. But he could sell at about RMB680,000/t (USD97,648/t) one week ago. "I failed to conclude any deals after my latest sale of four tons at around RMB680,000/t (USD97,648/t) EXW D/P late last month," said the producer, who forecasted that the Chinese praseodymium oxide 99.5%min mainstream prices would decline by around RMB10,000/t (USD1,436/t) in the coming week due to buyers' wait-and-see attitudes.
The producer, with an annual production capacity of 180t of praseodymium oxide 99.5%min, produced about four tons so far this year, compared with approximately 50t last year. He estimates to produce around three tons this month, without much change MoM. He has about five tons of stocks now, an increase of three tons MoM.
A producer in South China disclosed that he lowers praseodymium oxide 99.5%min quotation to about RMB640,000/t (USD91,904/t) EXW D/P and has intention to sell at around RMB630,000/t (USD90,468/t) now, while he didn't consider selling at prices below RMB680,000/t (USD97,648/t) one week ago. "I last sold three tons at around RMB700,000/t (USD100,520/t) in late February," said the producer, who failed to receive any inquiries over the past week. He lacks confidence towards the praseodymium oxide 99.5%min demand outlook and forecasted that the Chinese praseodymium oxide 99.5%min mainstream prices still have room to go down in the forthcoming week.
With an annual production capacity of 276t of praseodymium oxide 99.5%min, the producer expects an output of around five tons this month, down by eight tons MoM. His outputs in 2022 and so far in 2023 recorded approximately 90t and 18t respectively. He holds an inventory of around four tons now, down by five tons MoM.
Another producer in South China noted that he quotes around RMB640,000/t (USD91,904/t) EXW D/P for praseodymium oxide 99.5%min and refuses to accept any counteroffer now, while he has difficulty in selling at prices below RMB620,000/t (USD89,032/t) now. But he could sell at about RMB680,000/t (USD97,648/t) one week ago. "I failed to conclude any deals after my latest sale of four tons at around RMB680,000/t (USD97,648/t) EXW D/P late last month," said the producer, who forecasted that the Chinese praseodymium oxide 99.5%min mainstream prices would decline by around RMB10,000/t (USD1,436/t) in the coming week due to buyers' wait-and-see attitudes.
The producer, with an annual production capacity of 180t of praseodymium oxide 99.5%min, produced about four tons so far this year, compared with approximately 50t last year. He estimates to produce around three tons this month, without much change MoM. He has about five tons of stocks now, an increase of three tons MoM.
