Chinese PrNd mischmetal prices move down
2024-03-05 08:28:21 [Print]
BEIJING (Asian Metal) 5 Mar 24 - The Chinese PrNd mischmetal market remained inactive over the past five days due to consumers' wait-and-see attitudes. The current Chinese PrNd mischmetal mainstream prices slid to RMB435,000-440,000/t (USD60,422-61,116/t) EXW T/T 30 days, down by around RMB5,000/t (USD695/t) from late last week. Suppliers faced difficulties in concluding deals and lacked confidence towards the demand trend. As the demand shows no signs of picking up and Chinese PrNd oxide mainstream prices still show downtrend, insiders forecasted that the Chinese PrNd mischmetal mainstream prices would go down further in the coming week.
A consumer in Zhejiang province revealed that his regular PrNd mischmetal suppliers lowered quotation to about RMB440,000/t (USD61,116/t) EXW T/T 30 days for him this Monday. According to his experience, he could replenish stocks at around RMB435,000/t (USD60,422/t) now, while he couldn't purchase at prices lower than RMB440,000/t (USD61,116/t) late last week. "I last purchased 10t at around RMB445,000/t (USD61,811/t) in the middle of last week," said the consumer, who held pessimistic attitudes towards the demand trend and predicted that the Chinese PrNd mischmetal market would witness further sliding prices in the coming week.
With an annual consumption capacity of 2,880t of PrNd mischmetal, the consumer expected to use around 60t in March, compared with about 30t in February. He consumed approximately 1,100t and 130t respectively in 2023 and so far in 2024. He holds an inventory of around 30t now, in line with early February.
Another consumer in Zhejiang province claimed that his regular PrNd mischmetal producers quoted about RMB445,000/t (USD61,811/t) EXW T/T 30 days for him today. Based on his experience, he could purchase at around RMB440,000/t (USD61,116/t) at present, while he faced great difficulty in buying at prices lower than RMB450,000/t (USD62,505/t) one week ago. He concluded his latest procurement early this month, when he bought 20t at around RMB490,000/t (USD68,061/t). "Given the downward trend, I plan to keep watching the Chinese PrNd mischmetal market in the coming week," said the consumer, who enquired that the current PrNd oxide mainstream prices already dropped to RMB355,000/t (USD49,310/t) EXW D/P, compared with about RMB360,000/t (USD50,004/t) in late last week. He predicted that the Chinese PrNd mischmetal mainstream prices would slide by around RMB10,000/t (USD1,389/t) in the coming week.
The consumer, with an annual consumption capacity of 750t of PrNd mischmetal, consumed about 75t so far this year, compared with approximately 530t last year. He expected to use around 45t this month, up by 20t MoM. He has about 25t of stocks at the moment, down by five tons MoM.
A consumer in Zhejiang province revealed that his regular PrNd mischmetal suppliers lowered quotation to about RMB440,000/t (USD61,116/t) EXW T/T 30 days for him this Monday. According to his experience, he could replenish stocks at around RMB435,000/t (USD60,422/t) now, while he couldn't purchase at prices lower than RMB440,000/t (USD61,116/t) late last week. "I last purchased 10t at around RMB445,000/t (USD61,811/t) in the middle of last week," said the consumer, who held pessimistic attitudes towards the demand trend and predicted that the Chinese PrNd mischmetal market would witness further sliding prices in the coming week.
With an annual consumption capacity of 2,880t of PrNd mischmetal, the consumer expected to use around 60t in March, compared with about 30t in February. He consumed approximately 1,100t and 130t respectively in 2023 and so far in 2024. He holds an inventory of around 30t now, in line with early February.
Another consumer in Zhejiang province claimed that his regular PrNd mischmetal producers quoted about RMB445,000/t (USD61,811/t) EXW T/T 30 days for him today. Based on his experience, he could purchase at around RMB440,000/t (USD61,116/t) at present, while he faced great difficulty in buying at prices lower than RMB450,000/t (USD62,505/t) one week ago. He concluded his latest procurement early this month, when he bought 20t at around RMB490,000/t (USD68,061/t). "Given the downward trend, I plan to keep watching the Chinese PrNd mischmetal market in the coming week," said the consumer, who enquired that the current PrNd oxide mainstream prices already dropped to RMB355,000/t (USD49,310/t) EXW D/P, compared with about RMB360,000/t (USD50,004/t) in late last week. He predicted that the Chinese PrNd mischmetal mainstream prices would slide by around RMB10,000/t (USD1,389/t) in the coming week.
The consumer, with an annual consumption capacity of 750t of PrNd mischmetal, consumed about 75t so far this year, compared with approximately 530t last year. He expected to use around 45t this month, up by 20t MoM. He has about 25t of stocks at the moment, down by five tons MoM.
