Chinese PrNd oxide prices decline
2023-03-15 08:30:49 [Print]
BEIJING (Asian Metal) 15 Mar 23 - Given that most suppliers lowered their prices today because of the weak demand, the current mainstream prices of Chinese PrNd oxide 99%min, Pr 25±2% max, Nd 75±2% max, Ce 0.05%max, Sm 0.03%max stand at RMB570,000-580,000/t (USD82,975-84,431/t) EXW D/P, down by RMB17,000/t (USD2,475/t) from yesterday. Insiders believe that the mainstream prices of Chinese PrNd oxide 99%min would go down in the following week as most suppliers remain pessimistic.
A trader in Southeast China disclosed, "We presently offer RMB580,000/t (USD84,431/t) EXW D/P for PrNd oxide 99%min, Pr 25±2% , Nd 75±2% , Ce 0.05% max, Sm 0.05% max today and could possibly sell at the price as low as RMB570,000/t (USD82,975/t)". The trader lowered their price today to promote sales but failed to close any deal today as their clients prefer to wait on sidelines. While the trader could not accept any prices lower than RMB585,000/t (USD85,159/t) yesterday and sold about 5t at RMB585,000/t (USD85,159/t) then. The trader predicts that the mainstream prices of Chinese PrNd oxide would go down further in the following week due to the dim market.
The trader predicts to sell around 8t in March, while they sold about 30t last month. They have an inventory of nearly 3t at present.
Another trader in South China revealed that they currently offer RMB575,000/t (USD83,703/t) EXW D/P for PrNd oxide 99%min, Pr 25±2% , Nd 75±2% , Ce 0.05%max, Sm 0.03%max and they could not accept prices under RMB570,000/t (USD82,975/t). "We sold about 5t at RMB572,000/t (USD83,267/t) today and didn't not close any deal yesterday", the trader mentioned. They refused prices less than RMB580,000/t (USD84,431/t) yesterday. The trader remains pessimistic towards the market because of the weak demand and expects that the mainstream prices of Chinese PrNd oxide would decline in the following week.
The trader sold around 400t in 2022. They estimate to sell nearly 20t this month, compared to 25t in February. They hold an inventory of nearly 10t at the moment.
A trader in Southeast China disclosed, "We presently offer RMB580,000/t (USD84,431/t) EXW D/P for PrNd oxide 99%min, Pr 25±2% , Nd 75±2% , Ce 0.05% max, Sm 0.05% max today and could possibly sell at the price as low as RMB570,000/t (USD82,975/t)". The trader lowered their price today to promote sales but failed to close any deal today as their clients prefer to wait on sidelines. While the trader could not accept any prices lower than RMB585,000/t (USD85,159/t) yesterday and sold about 5t at RMB585,000/t (USD85,159/t) then. The trader predicts that the mainstream prices of Chinese PrNd oxide would go down further in the following week due to the dim market.
The trader predicts to sell around 8t in March, while they sold about 30t last month. They have an inventory of nearly 3t at present.
Another trader in South China revealed that they currently offer RMB575,000/t (USD83,703/t) EXW D/P for PrNd oxide 99%min, Pr 25±2% , Nd 75±2% , Ce 0.05%max, Sm 0.03%max and they could not accept prices under RMB570,000/t (USD82,975/t). "We sold about 5t at RMB572,000/t (USD83,267/t) today and didn't not close any deal yesterday", the trader mentioned. They refused prices less than RMB580,000/t (USD84,431/t) yesterday. The trader remains pessimistic towards the market because of the weak demand and expects that the mainstream prices of Chinese PrNd oxide would decline in the following week.
The trader sold around 400t in 2022. They estimate to sell nearly 20t this month, compared to 25t in February. They hold an inventory of nearly 10t at the moment.
