Chinese PrNd oxide prices drop
2023-04-25 08:30:40 [Print]
BEIJING (Asian Metal) 25 Apr 23 - The Chinese PrNd oxide market witnessed slow buying activities over the past week due to consumers' wait-and-see attitudes. The current Chinese PrNd oxide mainstream prices declined to RMB465,000-477,000/t (USD67,461-69,202/t) EXW D/P, a decrease of around RMB5,000/t (USD725/t) from one week ago. As buyers purchase inactively and lower target prices continuously, insiders forecasted that the Chinese PrNd oxide mainstream prices would move down further in the upcoming week.
A producer in North China noted that they lower PrNd oxide quotation to about RMB480,000/t (USD69,637/t) EXW D/P and consider selling at around RMB475,000/t (USD68,911/t) at present, while they refused to sell at prices below RMB480,000/t (USD69,637/t) one week ago. "We received an inquiry of 10t of PrNd oxide two days ago and the client meant to purchase at around RMB478,000/t (USD69,347/t), but I refused to sell at prices lower than RMB480,000/t (USD69,637/t)," said the producer, who last sold five tons at around RMB540,000/t (USD78,341/t) at the end of March. In view of weak demand, they forecasted that the Chinese PrNd oxide mainstream prices would go down further in the upcoming week.
With an annual production capacity of 800t of PrNd oxide, the producer expects an output of around 50t this month, a decline of 10t MoM. They produced approximately 485t and 170t respectively last year and so far this year. They hold no stock now, unchanged MoM.
A consumer in North China disclosed that his regular suppliers quote about RMB470,000/t (USD68,186/t) EXW D/P for PrNd oxide to him at present. Based on his experience, he could buy at around RMB465,000/t (USD67,461/t) now, while he had difficulty in buying at prices below RMB480,000/t (USD69,637/t) one week ago. "I concluded my latest procurement early this month, when I purchased five tons at around RMB520,000/t (USD75,440/t)," said the consumer, who has no plan to buy PrNd oxide again in the coming week due to soft demand of his PrNd mischmetal. In view of consumers' wait-and-see attitudes, he forecasted that the Chinese PrNd oxide mainstream prices would go down by around RMB10,000/t (USD1,451/t) in the coming week.
The consumer, with an annual consumption capacity of 1,300t of PrNd oxide, consumed approximately 650t and 240t respectively in 2022 and so far in 2023. He estimates to use around 60t this month, without much change MoM. He holds an inventory of around 10t at the moment, the same as one month ago.
A producer in North China noted that they lower PrNd oxide quotation to about RMB480,000/t (USD69,637/t) EXW D/P and consider selling at around RMB475,000/t (USD68,911/t) at present, while they refused to sell at prices below RMB480,000/t (USD69,637/t) one week ago. "We received an inquiry of 10t of PrNd oxide two days ago and the client meant to purchase at around RMB478,000/t (USD69,347/t), but I refused to sell at prices lower than RMB480,000/t (USD69,637/t)," said the producer, who last sold five tons at around RMB540,000/t (USD78,341/t) at the end of March. In view of weak demand, they forecasted that the Chinese PrNd oxide mainstream prices would go down further in the upcoming week.
With an annual production capacity of 800t of PrNd oxide, the producer expects an output of around 50t this month, a decline of 10t MoM. They produced approximately 485t and 170t respectively last year and so far this year. They hold no stock now, unchanged MoM.
A consumer in North China disclosed that his regular suppliers quote about RMB470,000/t (USD68,186/t) EXW D/P for PrNd oxide to him at present. Based on his experience, he could buy at around RMB465,000/t (USD67,461/t) now, while he had difficulty in buying at prices below RMB480,000/t (USD69,637/t) one week ago. "I concluded my latest procurement early this month, when I purchased five tons at around RMB520,000/t (USD75,440/t)," said the consumer, who has no plan to buy PrNd oxide again in the coming week due to soft demand of his PrNd mischmetal. In view of consumers' wait-and-see attitudes, he forecasted that the Chinese PrNd oxide mainstream prices would go down by around RMB10,000/t (USD1,451/t) in the coming week.
The consumer, with an annual consumption capacity of 1,300t of PrNd oxide, consumed approximately 650t and 240t respectively in 2022 and so far in 2023. He estimates to use around 60t this month, without much change MoM. He holds an inventory of around 10t at the moment, the same as one month ago.
