Chinese PrNd mischmetal suppliers bearish about price trends
2023-04-18 08:33:14 [Print]
BEIJING (Asian Metal) 18 Apr 23 - The Chinese PrNd mischmetal market witnessed slow buying activities over the past week due to consumers' wait-and-see attitudes. Suppliers held bearish attitudes towards the price trends and lowered prices. The current Chinese PrNd mischmetal mainstream prices dropped to RMB580,000-590,000/t (USD84,425-85,880/t) EXW T/T 30 days, a decline of around RMB40,000/t (USD5,822/t) from one week ago. As buyers purchase inactively and Chinese PrNd oxide prices still show downtrend, insiders forecasted that the Chinese PrNd mischmetal mainstream prices would move down further in the coming week.
A producer in South China forecasted that the Chinese PrNd mischmetal mainstream prices would drop by around RMB15,000/t (USD2,183/t) in the upcoming week due to buyers' wait-and-see attitudes. He lowers PrNd mischmetal quotation to around RMB590,000/t (USD85,880/t) EXW D/P and considers selling at about RMB580,000/t (USD84,425/t) now, while he refused to sell at prices below RMB630,000/t (USD91,703/t) one week ago. He last sold 10t at around RMB630,000/t (USD91,703/t) early this month. "I have to accept price decline in order to gain orders among furious competition among sellers," said the producer, who failed to receive any inquiries from spot market over the past three days.
With an annual production capacity of 2,400t of PrNd mischmetal, the producer expects an output of around 200t this month, without much change MoM. He produced approximately 1,800t and 650t respectively in 2022 and so far in 2023. He doesn't hold stock now, unchanged MoM.
A producer in North China predicted that the Chinese PrNd mischmetal market would continue seeing sliding prices in the coming week due to dropping PrNd oxide prices. He quotes around RMB590,000/t (USD85,880/t) EXW T/T 30 days for PrNd mischmetal and has intention to sell at about RMB585,000/t (USD85,153/t) now, while he refused to sell at prices below RMB625,000/t (USD90,975/t) one week ago. He concluded his latest sale late last week, when he sold five tons at around RMB615,000/t (USD89,520/t). "I could buy PrNd oxide at around RMB480,000/t (USD69,869/t) EXW D/P now, while he couldn't buy at prices below RMB500,000/t (USD72,780/t) one week ago," said the producer.
The producer, with an annual production capacity of 5,400t of PrNd mischmetal, produced approximately 5,120t of 1,600t last year and so far this year. He expects to produce around 450t this month, in line with one month ago. He holds an inventory of around 200t now, up by 50t MoM.
A producer in South China forecasted that the Chinese PrNd mischmetal mainstream prices would drop by around RMB15,000/t (USD2,183/t) in the upcoming week due to buyers' wait-and-see attitudes. He lowers PrNd mischmetal quotation to around RMB590,000/t (USD85,880/t) EXW D/P and considers selling at about RMB580,000/t (USD84,425/t) now, while he refused to sell at prices below RMB630,000/t (USD91,703/t) one week ago. He last sold 10t at around RMB630,000/t (USD91,703/t) early this month. "I have to accept price decline in order to gain orders among furious competition among sellers," said the producer, who failed to receive any inquiries from spot market over the past three days.
With an annual production capacity of 2,400t of PrNd mischmetal, the producer expects an output of around 200t this month, without much change MoM. He produced approximately 1,800t and 650t respectively in 2022 and so far in 2023. He doesn't hold stock now, unchanged MoM.
A producer in North China predicted that the Chinese PrNd mischmetal market would continue seeing sliding prices in the coming week due to dropping PrNd oxide prices. He quotes around RMB590,000/t (USD85,880/t) EXW T/T 30 days for PrNd mischmetal and has intention to sell at about RMB585,000/t (USD85,153/t) now, while he refused to sell at prices below RMB625,000/t (USD90,975/t) one week ago. He concluded his latest sale late last week, when he sold five tons at around RMB615,000/t (USD89,520/t). "I could buy PrNd oxide at around RMB480,000/t (USD69,869/t) EXW D/P now, while he couldn't buy at prices below RMB500,000/t (USD72,780/t) one week ago," said the producer.
The producer, with an annual production capacity of 5,400t of PrNd mischmetal, produced approximately 5,120t of 1,600t last year and so far this year. He expects to produce around 450t this month, in line with one month ago. He holds an inventory of around 200t now, up by 50t MoM.
