Bearish attitudes in Chinese cadmium ingot market
2023-04-25 08:30:53 [Print]
BEIJING (Asian Metal) 25 Apr 23 - Chinese cadmium ingot 99.99%min market ran slowly over the past week as most downstream consumers refused to build more stocks due to the soft prices from suppliers. Currently, the mainstream prices of Chinese cadmium ingot 99.99%min decline to RMB31,500-32,000/t (USD2.07-2.11/lb) EXW D/P, down by RMB500/t (USD0.03/lb) from the end of last week. Insiders believe that the prevailing prices of Chinese cadmium ingot 99.99%min would show a downtrend in the coming week as most suppliers tend to lower the prices to compete for orders with bearish attitudes towards the market.
A producer in southern China mentioned that they hold no confidence about the cadmium ingot 99.99%min market at present as their consumers generally refused to bid the material at higher than RMB30,000/t (USD1.97/lb) EXW D/P now, while they still could close deal at RMB32,000/t (USD2.11/lb) EXW D/P late last week. The source said, "Given that most consumers insist on watching the market and wait for lower prices, we are of the opinion that the mainstream prices of Chinese cadmium ingot 99.99%min would go down to RMB30,000/t (USD1.97/lb) EXW D/P soon in the coming two weeks." They last sold around 33t at RMB32,000/t (USD2.11/lb) EXW D/P last Friday.
The producer, having a production capacity of 1,800tpy of cadmium ingot 99.99%min, expects to produce about 100t this month, an increase of around 30t from last month. They hold around 33t of stocks now, while did not hold any stock late last month. They produced about 1,000t totally in 2022 and around 165t till now in 2023.
"We forecast that the mainstream prices of Chinese cadmium ingot 99.99%min would continue going down further in the coming week as most consumers just watch the market with bearish attitudes and soft demand now," a trader in southern China disclosed. They failed to purchase around 33t of cadmium ingot 99.99%min at RMB31,000/t (USD2.04/lb) EXW D/P at the end of last week and still insist on biding at this price now with wait-and-see attitudes. They last purchased around 33t at RMB32,500/t (USD2.14/lb) EXW D/P one week ago.
The trader, based on a regular monthly trading volume of 65t of cadmium ingot 99.99%min, expects to sell about 100t this month, up by about 33t from last month. They hold around 65t of stocks now, an increase of around 30t from the end of last month. They sold about 1,200t in 2022 and around 200t so far in 2023.
A producer in southern China mentioned that they hold no confidence about the cadmium ingot 99.99%min market at present as their consumers generally refused to bid the material at higher than RMB30,000/t (USD1.97/lb) EXW D/P now, while they still could close deal at RMB32,000/t (USD2.11/lb) EXW D/P late last week. The source said, "Given that most consumers insist on watching the market and wait for lower prices, we are of the opinion that the mainstream prices of Chinese cadmium ingot 99.99%min would go down to RMB30,000/t (USD1.97/lb) EXW D/P soon in the coming two weeks." They last sold around 33t at RMB32,000/t (USD2.11/lb) EXW D/P last Friday.
The producer, having a production capacity of 1,800tpy of cadmium ingot 99.99%min, expects to produce about 100t this month, an increase of around 30t from last month. They hold around 33t of stocks now, while did not hold any stock late last month. They produced about 1,000t totally in 2022 and around 165t till now in 2023.
"We forecast that the mainstream prices of Chinese cadmium ingot 99.99%min would continue going down further in the coming week as most consumers just watch the market with bearish attitudes and soft demand now," a trader in southern China disclosed. They failed to purchase around 33t of cadmium ingot 99.99%min at RMB31,000/t (USD2.04/lb) EXW D/P at the end of last week and still insist on biding at this price now with wait-and-see attitudes. They last purchased around 33t at RMB32,500/t (USD2.14/lb) EXW D/P one week ago.
The trader, based on a regular monthly trading volume of 65t of cadmium ingot 99.99%min, expects to sell about 100t this month, up by about 33t from last month. They hold around 65t of stocks now, an increase of around 30t from the end of last month. They sold about 1,200t in 2022 and around 200t so far in 2023.
