Chinese PrNd mischmetal prices move down
2023-04-27 08:28:45 [Print]
BEIJING (Asian Metal) 27 Apr 23 - The Chinese PrNd mischmetal market still witnessed soft demand over the past week as consumers still purchased inactively. The current Chinese PrNd mischmetal mainstream prices dropped to RMB550,000-560,000/t (USD79,427-80.871/t) EXW T/T 30 days, down by around RMB25,000/t (USD3,610/t) from one week ago. In view of downward PrNd oxide prices, insiders forecasted that the Chinese PrNd oxide mainstream prices would drop further in the upcoming week.
A producer in South China revealed that he lowers PrN mischmetal quotation to about RMB550,000/t (USD79,427/t) EXW T/T 30 days and refuses to accept any counteroffer at present, while he didn't consider selling at prices below RMB575,000/t (USD83,037/t) one week ago. "I concluded my latest sale yesterday, when I sold five tons at around RMB550,000/t (USD79,427/t)," said the producer, who could purchase PrNd oxide at around RMB450,000/t (USD64,986/t) EXW D/P now, while he couldn't buy at prices below RMB480,000/t (USD69,318/t) one week ago. Taking the weak demand from consumers and dropping PrNd oxide prices, he forecasted that the Chinese PrNd mischmetal prices would move down further in the upcoming week.
With an annual production capacity of 2,000t of PrNd mischmetal, the producer expects an output of around 70t in April, a decline of 15t MoM. He produced approximately 1,500t and 320t respectively in 2022 and so far in 2023. He holds an inventory of around 100t now, in line with late March.
A consumer in South China noted that he sent an inquiry of 20t of PrNd mischmetal today and got quotations of around RMB550,000/t (USD79,427/t) EXW T/T 30 days from regular suppliers. According to his experience, he couldn't bargain for better prices now, while he had difficulty in buying at prices below RMB580,000/t (USD83,759/t) one week ago. He last bought 15t at around RMB630,000/t (USD90,978/t) early this month. "In view of sufficient supply and downward prices, I have no plan to purchase PrNd mischmetal in bulk," said the consumer, who forecasted that the Chinese PrNd mischmetal mainstream prices would slide by around RMB10,000/t (USD1,444/t) in the upcoming week.
The consumer, with an annual consumption capacity of 480t of PrNd mischmetal, consumed approximately 250t and 150t respectively last year and so far this year. He expects to consume around 35t this month, without much change MoM. He has about 20t of stocks at the moment, without much change MoM.
A producer in South China revealed that he lowers PrN mischmetal quotation to about RMB550,000/t (USD79,427/t) EXW T/T 30 days and refuses to accept any counteroffer at present, while he didn't consider selling at prices below RMB575,000/t (USD83,037/t) one week ago. "I concluded my latest sale yesterday, when I sold five tons at around RMB550,000/t (USD79,427/t)," said the producer, who could purchase PrNd oxide at around RMB450,000/t (USD64,986/t) EXW D/P now, while he couldn't buy at prices below RMB480,000/t (USD69,318/t) one week ago. Taking the weak demand from consumers and dropping PrNd oxide prices, he forecasted that the Chinese PrNd mischmetal prices would move down further in the upcoming week.
With an annual production capacity of 2,000t of PrNd mischmetal, the producer expects an output of around 70t in April, a decline of 15t MoM. He produced approximately 1,500t and 320t respectively in 2022 and so far in 2023. He holds an inventory of around 100t now, in line with late March.
A consumer in South China noted that he sent an inquiry of 20t of PrNd mischmetal today and got quotations of around RMB550,000/t (USD79,427/t) EXW T/T 30 days from regular suppliers. According to his experience, he couldn't bargain for better prices now, while he had difficulty in buying at prices below RMB580,000/t (USD83,759/t) one week ago. He last bought 15t at around RMB630,000/t (USD90,978/t) early this month. "In view of sufficient supply and downward prices, I have no plan to purchase PrNd mischmetal in bulk," said the consumer, who forecasted that the Chinese PrNd mischmetal mainstream prices would slide by around RMB10,000/t (USD1,444/t) in the upcoming week.
The consumer, with an annual consumption capacity of 480t of PrNd mischmetal, consumed approximately 250t and 150t respectively last year and so far this year. He expects to consume around 35t this month, without much change MoM. He has about 20t of stocks at the moment, without much change MoM.
