Chinese PrNd mischmetal consumers remain pessimistic
2023-03-17 09:32:12 [Print]
BEIJING (Asian Metal) 17 Mar 23 - Dragged by the weak demand from the end market, most Chinese PrNd mischmetal suppliers lowered prices today but most consumers still remain pessimistic and expect further price decline in the coming week. The current Chinese PrNd mischmetal mainstream prices stood at RMB660,000-670,000/t (USD95,622-97,071/t) EXW T/T 30 days, down by RMB10,000/t(USD1,435/t) from yesterday. Due to the weak demand from the end market, insiders predict that the Chinese PrNd mischmetal mainstream prices would go down further in the coming week.
A consumer in South China holds bearish attitude towards the market and their consumption volume would reduce about 5t MoM caused by weak demand from the end market. They received a quotation from a supplier at RMB655,000/t (USD94,897/t) EXW D/P and could possibly purchase at the price as low as RMB650,000/t (USD94,173/t). Their inventory could only support half month's consumption but they have no plan to purchase today due to the declining prices. While the most competitive price they received yesterday stood at RMB660,000/t (USD95,622/t). They bought 2t at RMB730,000/t (USD105,763/t) last Friday for weekly use, while their single purchase volume hovers at 8-10t. The consumer predicts that the mainstream prices of Chinese PrNd mischmetal would decline further in the coming week because of the weak demand.
Based on an annual consumption capacity of 300t, the consumer plans to consume about 10t in March and consumed nearly 15t in February. They now hold an inventory of nearly 5t.
Another consumer in Southeast China also predicts that the mainstream prices of Chinese PrNd mischmetal would go down further in the coming week based on their negative attitude caused by consumption reduction. "The price of PrNd mischmetal we inquired today stood at RMB670,000/t (USD97,071/t) EXW D/P and we could possibly purchase at RMB665,000/t(USD96,346/t) but we did not purchase because we want to wait for the lower price and we did not receive any orders now", the consumer mentioned. While the best price they inquired yesterday stood at RMB680,000(USD98,519/t) EXW T/T 30 days or RMB670,000/t (USD97,071/t) EXW D/P. They bought 5t at RMB750,000/t (USD108,661/t) last Tuesday.
The consumer, with an annual consumption capacity of 300t of PrNd mischmetal, predicts to consume around 15t in March, down by 5t from February. They have an inventory of nearly 15t at present.
A consumer in South China holds bearish attitude towards the market and their consumption volume would reduce about 5t MoM caused by weak demand from the end market. They received a quotation from a supplier at RMB655,000/t (USD94,897/t) EXW D/P and could possibly purchase at the price as low as RMB650,000/t (USD94,173/t). Their inventory could only support half month's consumption but they have no plan to purchase today due to the declining prices. While the most competitive price they received yesterday stood at RMB660,000/t (USD95,622/t). They bought 2t at RMB730,000/t (USD105,763/t) last Friday for weekly use, while their single purchase volume hovers at 8-10t. The consumer predicts that the mainstream prices of Chinese PrNd mischmetal would decline further in the coming week because of the weak demand.
Based on an annual consumption capacity of 300t, the consumer plans to consume about 10t in March and consumed nearly 15t in February. They now hold an inventory of nearly 5t.
Another consumer in Southeast China also predicts that the mainstream prices of Chinese PrNd mischmetal would go down further in the coming week based on their negative attitude caused by consumption reduction. "The price of PrNd mischmetal we inquired today stood at RMB670,000/t (USD97,071/t) EXW D/P and we could possibly purchase at RMB665,000/t(USD96,346/t) but we did not purchase because we want to wait for the lower price and we did not receive any orders now", the consumer mentioned. While the best price they inquired yesterday stood at RMB680,000(USD98,519/t) EXW T/T 30 days or RMB670,000/t (USD97,071/t) EXW D/P. They bought 5t at RMB750,000/t (USD108,661/t) last Tuesday.
The consumer, with an annual consumption capacity of 300t of PrNd mischmetal, predicts to consume around 15t in March, down by 5t from February. They have an inventory of nearly 15t at present.
