Chinese LCO prices move down
2023-03-16 08:28:27 [Print]
BEIJING (Asian Metal) 16 Mar 23 - Chinese LCO Co 60%min suppliers lowered prices in order to gain orders over the past week. Therefore, the current Chinese LCO Co 60%min mainstream prices declined to RMB300-315/kg (USD43
A producer in North China noted that they quote around RMB310/kg (USD44.9/kg) delivered D/A 180 days for LCO Co 60%min and consider selling at around RMB300/kg (USD43.4/kg) now, while they refused to sell at prices below RMB315/kg (USD45.6/kg) one week ago. "We concluded our latest sale yesterday, when we sold five tons at around RMB300/kg (USD43.4/kg)," said the producer, who has to accept price declines in order to gain orders among drastic competition among sellers. They predicted that the Chinese LCO Co 60%min mainstream prices would drop by around RMB5/kg (USD0.7/kg) in the forthcoming week.
The producer, with an annual production capacity of 14,000t of LCO Co 60%min, estimates to produce around 500t in March, up by around 100t MoM. They produced approximately 6,100t and 850t respectively in 2022 and so far in 2023 . They hold an inventory of around 150t now, in line with mid-February.
Another producer in North China noted that they lower LCO Co 60%min quotation to about RMB310/kg (USD44.9/kg) delivered D/A 180 days and has intention to sell at around RMB305/kg (USD44.2/kg) now, while he didn't consider selling at prices below RMB315/kg (USD/kg) one week ago. He last sold two tons at around RMB305/kg (USD45.6/kg) yesterday . "My clients lower target prices continuously and I have to make concession on prices to compete orders among the furious competition," said the producer, who lacks confidence towards the LCO Co 60%min demand outlook and forecasted that the Chinese LCO Co 60%min mainstream prices would go down further in the coming week.
With an annual production capacity of 15,000t of LCO Co 60%min, the producer estimates to produce only around 200t this month, down by 120t MoM. He produced around 4,000t and 750t respectively last year and so far this year . They don't hold stock now, unchanged MoM.
. 4-45.6/kg) delivered D/A 180 days, a decrease of around RMB10/kg (USD1.4/kg) from one week ago . Dragged by buyers' sliding target prices and furious competition among sellers, insiders forecasted that the Chinese LCO Co 60%min mainstream prices would slide further in the coming week.
A producer in North China noted that they quote around RMB310/kg (USD44.9/kg) delivered D/A 180 days for LCO Co 60%min and consider selling at around RMB300/kg (USD43.4/kg) now, while they refused to sell at prices below RMB315/kg (USD45.6/kg) one week ago. "We concluded our latest sale yesterday, when we sold five tons at around RMB300/kg (USD43.4/kg)," said the producer, who has to accept price declines in order to gain orders among drastic competition among sellers. They predicted that the Chinese LCO Co 60%min mainstream prices would drop by around RMB5/kg (USD0.7/kg) in the forthcoming week.
The producer, with an annual production capacity of 14,000t of LCO Co 60%min, estimates to produce around 500t in March, up by around 100t MoM. They produced approximately 6,100t and 850t respectively in 2022 and so far in 2023 . They hold an inventory of around 150t now, in line with mid-February.
Another producer in North China noted that they lower LCO Co 60%min quotation to about RMB310/kg (USD44.9/kg) delivered D/A 180 days and has intention to sell at around RMB305/kg (USD44.2/kg) now, while he didn't consider selling at prices below RMB315/kg (USD/kg) one week ago. He last sold two tons at around RMB305/kg (USD45.6/kg) yesterday . "My clients lower target prices continuously and I have to make concession on prices to compete orders among the furious competition," said the producer, who lacks confidence towards the LCO Co 60%min demand outlook and forecasted that the Chinese LCO Co 60%min mainstream prices would go down further in the coming week.
With an annual production capacity of 15,000t of LCO Co 60%min, the producer estimates to produce only around 200t this month, down by 120t MoM. He produced around 4,000t and 750t respectively last year and so far this year . They don't hold stock now, unchanged MoM.