Chinese PrNd mischmetal consumers bearish about the market
2023-03-13 16:49:21 [Print]
BEIJING (Asian Metal) 13 Mar 23 - Given sluggish demand from the end market, most Chinese PrNd mischmetal consumers remain pessimistic and expect further price decrease next 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 RMB730,000-740,000/t (USD104,819-106,255/t) EXW T/T 30 days, down by RMB15,000/t (USD2,154/t) from yesterday.
Given weak demand from the end market and continuous price decrease of PrNd mischmetal, a consumer in North China holds negative attitude towards the market and cut their single purchase volume from 10t to 5t. Besides, they only maintain an inventory of 10t for 20 days' consumption now, while they held stocks for 2 months' consumption in the past. "We received a quotation from a supplier today at RMB730,000/t (USD104,819/t) EXW D/P for PrNd mischmetal 99%min, Pr 25±2% max, Nd 75±2% max, Fe 0.3%max, C 0.03%max, while the offer we received on Thursday stood at RMB750,000/t(USD107,691/t) EXW T/T 60 days or RMB740,000/t (USD106,255/t) EXW D/P", the consumer noted. They bought 5t at RMB750,000/t(USD107,691/t) EXW 60 T/T yesterday. 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 nearly 200t, the consumer plans to consume about 15t in March, in line with February. They now hold an inventory of nearly 10t.
Another consumer in South China, seeing continuous price decline in the past week and weak demand from the end market, also holds pessimistic attitude and predicts that the mainstream prices of Chinese PrNd mischmetal would go down further in the next week. They decide to purchase from hand to mouth in the future while they bought the amount for one month's consumption in the past. "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 RMB740,000/t (USD106,255/t) EXW T/T 30 days but we did not purchase because of the declining prices", the consumer revealed, adding that the price they inquired on Tuesday stood at RMB760,000/t (USD109,126/t). They last bought about 30t at RMB840,000/t (USD120,613/t) in the middle of February.
The consumer, with an annual consumption capacity of 720t of PrNd mischmetal, predicts to consume around 21t in March, in line with February. They have an inventory of nearly 30t at present.
Given weak demand from the end market and continuous price decrease of PrNd mischmetal, a consumer in North China holds negative attitude towards the market and cut their single purchase volume from 10t to 5t. Besides, they only maintain an inventory of 10t for 20 days' consumption now, while they held stocks for 2 months' consumption in the past. "We received a quotation from a supplier today at RMB730,000/t (USD104,819/t) EXW D/P for PrNd mischmetal 99%min, Pr 25±2% max, Nd 75±2% max, Fe 0.3%max, C 0.03%max, while the offer we received on Thursday stood at RMB750,000/t(USD107,691/t) EXW T/T 60 days or RMB740,000/t (USD106,255/t) EXW D/P", the consumer noted. They bought 5t at RMB750,000/t(USD107,691/t) EXW 60 T/T yesterday. 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 nearly 200t, the consumer plans to consume about 15t in March, in line with February. They now hold an inventory of nearly 10t.
Another consumer in South China, seeing continuous price decline in the past week and weak demand from the end market, also holds pessimistic attitude and predicts that the mainstream prices of Chinese PrNd mischmetal would go down further in the next week. They decide to purchase from hand to mouth in the future while they bought the amount for one month's consumption in the past. "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 RMB740,000/t (USD106,255/t) EXW T/T 30 days but we did not purchase because of the declining prices", the consumer revealed, adding that the price they inquired on Tuesday stood at RMB760,000/t (USD109,126/t). They last bought about 30t at RMB840,000/t (USD120,613/t) in the middle of February.
The consumer, with an annual consumption capacity of 720t of PrNd mischmetal, predicts to consume around 21t in March, in line with February. They have an inventory of nearly 30t at present.
