Chinese gallium metal prices accelerated decline
2023-03-21 08:29:50 [Print]
BEIJING (Asian Metal) 21 Mar 23 - Chinese gallium metal 99.99%min producers generally began to offer actively since late last week to clean the stocks with bearish attitudes, while the market saw inactive deals as downstream consumers only purchased from hand to mouth. Currently, the mainstream prices of Chinese gallium metal 99.99%min decline to RMB1,600-1,650/kg (USD233-240/kg) EXW D/P, down by RMB100/kg (USD15/kg) from the end of last week. Market participants forecast that the prevailing prices of Chinese gallium metal 99.99%min would continue moving down in the coming week due to lower prices from producers.
A trader in Southern China mentioned that they last purchased around 1t of gallium metal 99.99%min at RMB1,600/kg (USD233/kg) EXW D/P this Monday from a regular supplier, who still insisted on RMB1,700/kg (USD247/kg) EXW D/P at the end of last week. The source said, "To compete for orders, most producers started to lower the prices since the end of last week, while we could not build more stocks as we still hold no confidence about the market." They think that the prevailing prices of Chinese gallium metal 99.99%min would go down further in the coming week.
The trader, based on a regular monthly trading volume of 7t of gallium metal 99.99%min, holds around 3t of stocks now, unchanged from the same period last month. They expect to sell around 7t in March, the same as last month. They sold around 90t in total in 2022 and around 15t so far in 2023.
Another trader in Northern China disclosed that they moved down the price of gallium metal 99.99%min to RMB1,720/kg (USD250/kg) EXW D/P at present even for firm bids, while they failed to close any deal this Monday as their consumers generally would like to bid below RMB1,650/kg (USD240/kg) EXW D/P now. They last sold around 100kg at RMB1,750/kg (USD254/kg) EXW D/P at the end of last week to a consumer, who tend to refuse to execute the order in view of fast decreasing prices. The source said, "We expect that the mainstream prices of Chinese gallium metal 99.99%min would go down in the coming week considering that most producers would lower the prices further to promote sales."
The trader, with a regular monthly trading volume of 300kg of gallium metal 99.99%min, expects to sell around 300kg this month and sold around 200kg last month. They hold around 50kg of stock now. They sold around 4t in 2022 and around 500kg in the past two months in 2023.
A trader in Southern China mentioned that they last purchased around 1t of gallium metal 99.99%min at RMB1,600/kg (USD233/kg) EXW D/P this Monday from a regular supplier, who still insisted on RMB1,700/kg (USD247/kg) EXW D/P at the end of last week. The source said, "To compete for orders, most producers started to lower the prices since the end of last week, while we could not build more stocks as we still hold no confidence about the market." They think that the prevailing prices of Chinese gallium metal 99.99%min would go down further in the coming week.
The trader, based on a regular monthly trading volume of 7t of gallium metal 99.99%min, holds around 3t of stocks now, unchanged from the same period last month. They expect to sell around 7t in March, the same as last month. They sold around 90t in total in 2022 and around 15t so far in 2023.
Another trader in Northern China disclosed that they moved down the price of gallium metal 99.99%min to RMB1,720/kg (USD250/kg) EXW D/P at present even for firm bids, while they failed to close any deal this Monday as their consumers generally would like to bid below RMB1,650/kg (USD240/kg) EXW D/P now. They last sold around 100kg at RMB1,750/kg (USD254/kg) EXW D/P at the end of last week to a consumer, who tend to refuse to execute the order in view of fast decreasing prices. The source said, "We expect that the mainstream prices of Chinese gallium metal 99.99%min would go down in the coming week considering that most producers would lower the prices further to promote sales."
The trader, with a regular monthly trading volume of 300kg of gallium metal 99.99%min, expects to sell around 300kg this month and sold around 200kg last month. They hold around 50kg of stock now. They sold around 4t in 2022 and around 500kg in the past two months in 2023.
