Chinese PrNd mischmetal prices go down
2023-04-13 08:07:58 [Print]
BEIJING (Asian Metal) 13 Apr 23 - The Chinese PrNd mischmetal market witnessed slow buying activities over the past week due to weak demand from buyers. The current Chinese PrNd mischmetal mainstream prices dropped to RMB615,000-625,000/t (USD89,353-90,806/t) EXW T/T 30 days, down by around RMB20,000/t (USD2,906/t) from one week ago. In view of weak demand and downward PrNd oxide prices, insiders forecasted that the Chinese PrNd mischmetal mainstream prices would drop further in the upcoming week.
A producer in North China noted that he lowers PrNd mischmetal quotation to about RMB615,000/t (USD89,353/t) EXW T/T 30 days and refuses to mark down prices, while he refused to sell at prices below RMB635,000/t (USD92,259/t) one week ago. He last sold five tons at around RMB640,000/t (USD92,986/t) early this month. "My clients held wait-and-see attitudes and I failed to get any inquiries so far this week," said the producer, who could buy PrNd oxide at about RMB500,000/t (USD72,645/t) EXW D/P now, while he couldn't buy at prices below RMB535,000/t (USD77,730/t) one week ago. Given the soft demand from buyers and dropping PrNd oxide prices, he forecasted that the Chinese PrNd mischmetal prices would move down by about RMB10,000/t (USD1,453/t) in the coming week.
With an annual production capacity of 4,500t of PrNd mischmetal, the produce expects to produce around 350t this month as they got OEM orders, without much change MoM. They produced approximately 4,200t and 1,150t in 2022 and so far in 2023. He doesn't hold stock now, unchanged MoM.
A trader in South China disclosed that he quotes around RMB625,000/t (USD90,806/t) EXW T/T 30 days for PrNd mischmetal and considers selling at around RMB620,000/t (USD90,080/t) at the moment, while he had no intention to sell at prices below RMB640,000/t (USD92,986/t) one week ago. "I concluded my latest sale early this week, when I sold five tons at around RMB625,000/t (USD90,806/t)," said the trader, who has difficulty in concluding deals and lacks confidence towards the demand outlook. He foresaw that the Chinese PrNd mischmetal mainstream prices still have room to go down in the coming week.
The trader, with a typical monthly trading volume of 70t of PrNd mischmetal, sold about 250t so far this year, compared with approximately 250t last year. He expects to sell around 85t this month, down by five tons MoM. He holds no inventory at present, without much change MoM.
A producer in North China noted that he lowers PrNd mischmetal quotation to about RMB615,000/t (USD89,353/t) EXW T/T 30 days and refuses to mark down prices, while he refused to sell at prices below RMB635,000/t (USD92,259/t) one week ago. He last sold five tons at around RMB640,000/t (USD92,986/t) early this month. "My clients held wait-and-see attitudes and I failed to get any inquiries so far this week," said the producer, who could buy PrNd oxide at about RMB500,000/t (USD72,645/t) EXW D/P now, while he couldn't buy at prices below RMB535,000/t (USD77,730/t) one week ago. Given the soft demand from buyers and dropping PrNd oxide prices, he forecasted that the Chinese PrNd mischmetal prices would move down by about RMB10,000/t (USD1,453/t) in the coming week.
With an annual production capacity of 4,500t of PrNd mischmetal, the produce expects to produce around 350t this month as they got OEM orders, without much change MoM. They produced approximately 4,200t and 1,150t in 2022 and so far in 2023. He doesn't hold stock now, unchanged MoM.
A trader in South China disclosed that he quotes around RMB625,000/t (USD90,806/t) EXW T/T 30 days for PrNd mischmetal and considers selling at around RMB620,000/t (USD90,080/t) at the moment, while he had no intention to sell at prices below RMB640,000/t (USD92,986/t) one week ago. "I concluded my latest sale early this week, when I sold five tons at around RMB625,000/t (USD90,806/t)," said the trader, who has difficulty in concluding deals and lacks confidence towards the demand outlook. He foresaw that the Chinese PrNd mischmetal mainstream prices still have room to go down in the coming week.
The trader, with a typical monthly trading volume of 70t of PrNd mischmetal, sold about 250t so far this year, compared with approximately 250t last year. He expects to sell around 85t this month, down by five tons MoM. He holds no inventory at present, without much change MoM.
