Chinese PrNd mischmetal consumers expect further price decline
2023-03-14 08:29:05 [Print]
BEIJING (Asian Metal) 10 Mar 23 - Given weak demand of the end market, most Chinese PrNd mischmetal consumers hold pessimistic attitudes and expect further price decrease in the following week despite that most suppliers lowered prices today. The current mainstream prices of Chinese PrNd mischmetal 99%min, Pr 25±2% max, Nd 75±2% max, Fe 0.3%max, C 0.05%max stand at RMB735,000-745,000/t (USD105,508-106,943/t) EXW D/P, down by RMB10,000/t(USD1,435/t) from yesterday.
A consumer in Southeast China holds bearish attitude towards the market given that their consumption volume would decrease by 5t MoM dragged by weak demand from the end market. Even though their inventory could only suppport half month's consumption, they have no plan to purchase today, when they received a quotation from a supplier at RMB740,000/t (USD106,226/t) EXW D/P or RMB745,000/t (USD106,982/t) EXW T/T 30 days. While the offer they received on Tuesday stood at RMB760,000/t(USD109,097/t) EXW D/P. The consumer predicts that the mainstream prices of Chinese PrNd mischmetal would go down further in the coming week due to weak demand.
Based on an annual consumption capacity of 300t, the consumer plans to consume about 15t in March and consumed nearly 20t in February. They now hold an inventory of nearly 10t.
Another consumer in South China also predicts that the mainstream prices of Chinese PrNd mischmetal would decline further in the upcoming week on basis of their negative attitude caused by consumtion reduction. "The price of PrNd mischmetal 99%min, Pr 25±2% max, Nd 75±2% max, Fe 0.3%max, C 0.03%max we inquired today stood at RMB720,000/t (USD106,226/t) EXW D/P but we did not purchase because we did not receive any orders from the end market now". While the price they inquired last Monday stood at RMB820,000(USD117,710/t). They bought 30t at RMB820,000/t(USD117,710/t) on 1st March.
The consumer, with an annual consumption capacity of 1,000t of PrNd mischmetal, predicts to consume around 30t in March, down by 10t from February. They have an inventory of nearly 40t at present.
A consumer in Southeast China holds bearish attitude towards the market given that their consumption volume would decrease by 5t MoM dragged by weak demand from the end market. Even though their inventory could only suppport half month's consumption, they have no plan to purchase today, when they received a quotation from a supplier at RMB740,000/t (USD106,226/t) EXW D/P or RMB745,000/t (USD106,982/t) EXW T/T 30 days. While the offer they received on Tuesday stood at RMB760,000/t(USD109,097/t) EXW D/P. The consumer predicts that the mainstream prices of Chinese PrNd mischmetal would go down further in the coming week due to weak demand.
Based on an annual consumption capacity of 300t, the consumer plans to consume about 15t in March and consumed nearly 20t in February. They now hold an inventory of nearly 10t.
Another consumer in South China also predicts that the mainstream prices of Chinese PrNd mischmetal would decline further in the upcoming week on basis of their negative attitude caused by consumtion reduction. "The price of PrNd mischmetal 99%min, Pr 25±2% max, Nd 75±2% max, Fe 0.3%max, C 0.03%max we inquired today stood at RMB720,000/t (USD106,226/t) EXW D/P but we did not purchase because we did not receive any orders from the end market now". While the price they inquired last Monday stood at RMB820,000(USD117,710/t). They bought 30t at RMB820,000/t(USD117,710/t) on 1st March.
The consumer, with an annual consumption capacity of 1,000t of PrNd mischmetal, predicts to consume around 30t in March, down by 10t from February. They have an inventory of nearly 40t at present.
