Chinese gallium metal prices stay soft
2023-03-16 08:26:55 [Print]
BEIJING (Asian Metal) 16 Mar 23 - Over the past week, Chinese gallium metal 99.99%min market saw inactive deals considering that most downstream consumers held back from purchasing due to lower prices from producers. Currently, the mainstream prices of Chinese gallium metal 99.99%min move down to RMB1,700-1,750/kg (USD246-253/kg) EXW D/P, down by RMB80/kg (USD12/kg) from the end of last week. Market participants believe that the prevailing prices of Chinese gallium metal 99.99%min would stay soft next week given that most producers continue marking down the prices to compete for orders.
A trader in Southern China mentioned that they last purchased around 500kg of gallium metal 99.99%min at RMB1,700/kg (USD246/kg) EXW D/P this Tuesday from a regular supplier, who still refused to sell below RMB1,800/kg (USD261/kg) EXW D/P at the end of last week. They did not purchase last week as the price stayed soft and cleaned their most of stocks with bearish attitudes towards the market. The source said, "We expect that the mainstream prices of Chinese germanium metal 99.99%min would go down further in the coming week as suppliers still keep in a hurry to sell."
The trader, based on a regular monthly trading volume of 500kg of gallium metal 99.99%min, expects to sell around 500kg this month, in line with February. They sold around 5t in 2022 and around 1t since early 2023.
Another trader in Southern China noted that they could purchase gallium metal 99.99%min at RMB1,600/kg (USD232/kg) Ex-vat EXW D/P at present at lowest, while most of their regular suppliers still refused to sell below RMB1,700/kg (USD246/kg) Ex-vat EXW D/P even for firm bids one week ago. They last purchased around 300kg at RMB1,600/kg (USD232/kg) Ex-vat EXW D/P this Monday. "We lost our confidence about the market due to soft prices from producers, who generally hold increasing stocks and think that the mainstream prices of Chinese gallium metal 99.99%min would decline in the following week," the source added.
The trader, having a regular monthly trading volume of 800kg of gallium metal 99.99%min, expects to sell around 500kg this month and sold around 800kg last month. They hold around 3t of stocks now, in line with the end of last month. They sold about 10t in 2022 and around 1.5t so far in 2023.
A trader in Southern China mentioned that they last purchased around 500kg of gallium metal 99.99%min at RMB1,700/kg (USD246/kg) EXW D/P this Tuesday from a regular supplier, who still refused to sell below RMB1,800/kg (USD261/kg) EXW D/P at the end of last week. They did not purchase last week as the price stayed soft and cleaned their most of stocks with bearish attitudes towards the market. The source said, "We expect that the mainstream prices of Chinese germanium metal 99.99%min would go down further in the coming week as suppliers still keep in a hurry to sell."
The trader, based on a regular monthly trading volume of 500kg of gallium metal 99.99%min, expects to sell around 500kg this month, in line with February. They sold around 5t in 2022 and around 1t since early 2023.
Another trader in Southern China noted that they could purchase gallium metal 99.99%min at RMB1,600/kg (USD232/kg) Ex-vat EXW D/P at present at lowest, while most of their regular suppliers still refused to sell below RMB1,700/kg (USD246/kg) Ex-vat EXW D/P even for firm bids one week ago. They last purchased around 300kg at RMB1,600/kg (USD232/kg) Ex-vat EXW D/P this Monday. "We lost our confidence about the market due to soft prices from producers, who generally hold increasing stocks and think that the mainstream prices of Chinese gallium metal 99.99%min would decline in the following week," the source added.
The trader, having a regular monthly trading volume of 800kg of gallium metal 99.99%min, expects to sell around 500kg this month and sold around 800kg last month. They hold around 3t of stocks now, in line with the end of last month. They sold about 10t in 2022 and around 1.5t so far in 2023.
