Chinese APT prices decline further
2023-03-23 11:38:49 [Print]
BEIJING (Asian Metal) 23 Mar 23 - Due to the limitation of the decline in raw material prices and weak demand in end market, the market saw sparse deals. Mainstream prices of Chinese APT 88.5%min decline to RMB175,000-176,000/t (USD25,434-25,579/t) delivered D/P currently, down by about RMB1,000/t (USD145/t) from late last week. Given soft raw material prices and inactive market demand, insiders predict that the prices of Chinese APT 88.5%min would remain relatively stable generally in the coming week.
"At present we offer RMB175,000/t (USD25,434/t) delivered D/P for APT 88.5%min, and supported by firm prices of raw material, we do not consider accepting any lower prices for sales at this time. However, customers currently have no intention of accepting this price for procurement, and we last sold about 30t at RMB176,000/t (USD25,579/t) late last week", a producer in South China noted. The producer added that due to the downward trend in prices, the market presented a strong wait-and-see sentiment, and consumers only made purchases upon orders. They only received one inquiry this week, while they normally receive inquiries every day. Due to weak demand in end market, downstream consumers do not purchase actively. Considering the soft demand in end market, the producer expects that the prices of Chinese APT 88.5%min would keep weak in general in the following week.
With an annual production capacity of 8,000t of APT 88.5%min, the producer saw an output of 5,000t or so in 2022. They produced about 500t in February and expect to output about 400t of the material in March, holding no stock in hand for the time being, unchanged MOM.
A trader in South China claimed, "Currently we quote at RMB175,000/t (USD25,434/t) delivered D/P for APT 88.5%min. As customers said that they could purchase APT 88.5%min at a price lower than RMB175,000/t (USD25,434/t), this week they tend to temporarily wait on the sidelines towards the market, while last week we did not consider accepting the price less than RMB176,000/t (USD25,579/t). We last sold about 30t at RMB178,000/t (USD25,870/t) ten days ago". The trader added that due to the overall weak market, they refused to purchase tungsten concentrate WO3 55%min at a price of more than RMB114,000/t (USD16,568/t). Currently the most competitive price received stands at RMB114,500/t (USD16,641/t), but because of weak market demand, they have no intention of purchasing for the time being. Considering that market demand remains weak, the trader expects that the prices of Chinese APT 88.5%min would go soft generally in the upcoming week.
With a regular monthly trade volume of 300t of APT 88.5%min, the trader expects to sell about 300t in March, stable MOM, and holds about 200t of stocks at the moment, basically in line with last month. They totally sold around 3,000t of the material in 2022.
"At present we offer RMB175,000/t (USD25,434/t) delivered D/P for APT 88.5%min, and supported by firm prices of raw material, we do not consider accepting any lower prices for sales at this time. However, customers currently have no intention of accepting this price for procurement, and we last sold about 30t at RMB176,000/t (USD25,579/t) late last week", a producer in South China noted. The producer added that due to the downward trend in prices, the market presented a strong wait-and-see sentiment, and consumers only made purchases upon orders. They only received one inquiry this week, while they normally receive inquiries every day. Due to weak demand in end market, downstream consumers do not purchase actively. Considering the soft demand in end market, the producer expects that the prices of Chinese APT 88.5%min would keep weak in general in the following week.
With an annual production capacity of 8,000t of APT 88.5%min, the producer saw an output of 5,000t or so in 2022. They produced about 500t in February and expect to output about 400t of the material in March, holding no stock in hand for the time being, unchanged MOM.
A trader in South China claimed, "Currently we quote at RMB175,000/t (USD25,434/t) delivered D/P for APT 88.5%min. As customers said that they could purchase APT 88.5%min at a price lower than RMB175,000/t (USD25,434/t), this week they tend to temporarily wait on the sidelines towards the market, while last week we did not consider accepting the price less than RMB176,000/t (USD25,579/t). We last sold about 30t at RMB178,000/t (USD25,870/t) ten days ago". The trader added that due to the overall weak market, they refused to purchase tungsten concentrate WO3 55%min at a price of more than RMB114,000/t (USD16,568/t). Currently the most competitive price received stands at RMB114,500/t (USD16,641/t), but because of weak market demand, they have no intention of purchasing for the time being. Considering that market demand remains weak, the trader expects that the prices of Chinese APT 88.5%min would go soft generally in the upcoming week.
With a regular monthly trade volume of 300t of APT 88.5%min, the trader expects to sell about 300t in March, stable MOM, and holds about 200t of stocks at the moment, basically in line with last month. They totally sold around 3,000t of the material in 2022.
