Chinese PrNd oxide prices slide
2024-03-06 08:30:28 [Print]
BEIJING (Asian Metal) 6 Mar 24 - Dragged by reduced target prices of consumers, Chinese PrNd oxide suppliers lowered prices over the past four days. As a consequence, the current Chinese PrNd oxide mainstream prices dropped to RMB353,000-358,000/t (USD49,032-49,727/t) EXW D/P, down by around RMB7,000/t (USD972/t) from one week ago. Insiders still lack confidence towards the demand trend and forecasted that the Chinese PrNd oxide mainstream prices would slide slightly in the coming week.
A producer in South China noted that he lowered PrNd oxide quotation to about RMB358,000/t (USD49,727/t) EXW D/P and had intention to sell at prices not lower than RMB353,000/t (USD49,032/t) today, while he refused to sell at prices below RMB360,000/t (USD50,004/t) late last week. "I last sold five tons at around RMB355,000/t (USD49,310/t) the day before yesterday," said the producer, who held a pessimistic attitude towards the PrNd oxide demand trend and forecasted that the Chinese PrNd oxide mainstream prices would slide by around RMB5,000/t (USD695/t) in the forthcoming week.
The producer, on basis of an annual production capacity of 2,400t of PrNd oxide, produced approximately 2,400t and 420t respectively in 2023 and so far in 2024. He expected an output of around 200t in March, unchanged MoM. He holds an inventory of around 80t at present, an increase of 30t MoM.
A consumer in Inner Mongolia claimed that his regular PrNd oxide suppliers quoted about RMB355,000/t (USD49,310/t) EXW D/P for him this Tuesday. According to his experience, he could replenish stocks at around RMB353,000/t (USD49,032/t) now, while he faced great difficulty in buying at prices lower than RMB360,000/t (USD50,004/t) late last week. He concluded his latest procurement early last month, when he bought 20t at around RMB390,000/t (USD54,171/t). "In view of downward price trends, I plan to keep holding a wait-and-see attitude towards the PrNd oxide market in the coming week," said the consumer, who forecasted that Chinese PrNd oxide mainstream prices would drop further in the coming week as buyers purchase inactively.
With an annual consumption capacity of 3,600t of PrNd oxide, the consumer expected to use around 240t this month, without much change MoM. His consumption volume so far this year recorded at around 510t, compared with approximately 2,700t last year. He has around 100t of stocks at the moment, a decrease of 100t MoM.
A producer in South China noted that he lowered PrNd oxide quotation to about RMB358,000/t (USD49,727/t) EXW D/P and had intention to sell at prices not lower than RMB353,000/t (USD49,032/t) today, while he refused to sell at prices below RMB360,000/t (USD50,004/t) late last week. "I last sold five tons at around RMB355,000/t (USD49,310/t) the day before yesterday," said the producer, who held a pessimistic attitude towards the PrNd oxide demand trend and forecasted that the Chinese PrNd oxide mainstream prices would slide by around RMB5,000/t (USD695/t) in the forthcoming week.
The producer, on basis of an annual production capacity of 2,400t of PrNd oxide, produced approximately 2,400t and 420t respectively in 2023 and so far in 2024. He expected an output of around 200t in March, unchanged MoM. He holds an inventory of around 80t at present, an increase of 30t MoM.
A consumer in Inner Mongolia claimed that his regular PrNd oxide suppliers quoted about RMB355,000/t (USD49,310/t) EXW D/P for him this Tuesday. According to his experience, he could replenish stocks at around RMB353,000/t (USD49,032/t) now, while he faced great difficulty in buying at prices lower than RMB360,000/t (USD50,004/t) late last week. He concluded his latest procurement early last month, when he bought 20t at around RMB390,000/t (USD54,171/t). "In view of downward price trends, I plan to keep holding a wait-and-see attitude towards the PrNd oxide market in the coming week," said the consumer, who forecasted that Chinese PrNd oxide mainstream prices would drop further in the coming week as buyers purchase inactively.
With an annual consumption capacity of 3,600t of PrNd oxide, the consumer expected to use around 240t this month, without much change MoM. His consumption volume so far this year recorded at around 510t, compared with approximately 2,700t last year. He has around 100t of stocks at the moment, a decrease of 100t MoM.
