Chinese rutile market sees active inquiries
2024-03-14 08:25:48 [Print]
BEIJING (Asian Metal) 14 Mar 24 - As most consumers came back to the market, Chinese rutile market witnessed active inquiries in the past week. The current mainstream prices of Chinese rutile 95%min rose to RMB10,300-10,600/t (USD1,432-1,473/t) EXW D/P, up by RMB100/t (USD14/t) from early last week. As most suppliers regain confidence in the market, insiders predict that the mainstream prices would increase further in the coming week.
A producer in Hainan claimed that they received five inquiries so far this week, while they received three inquiries in total last week. "We quote RMB10,600/t (USD1,473/t) EXW D/P for rutile 95%min and could consider RMB10,500/t (USD1,460/t) for orders no less than 30t at present, while we quoted RMB10,500/t (USD1,460/t) and could accept RMB10,400/t (USD1,446/t) for the same quantity early last week", said the producer, who just sold around 30t to a regular client at about RMB10,500/t (USD1,460/t) early this week. As most consumers remain active in sending inquiries, the producer plans to raise their price by around RMB100/t (USD14/t) next week and predicts that the mainstream prices would increase by around RMB100/t (USD14/t) in the coming week.
Based on an annual production capacity of 30,000t, the producer would produce around 1,000t in March, up by 800t from last month as they remained out of the market during the Spring Festival holiday since early February. They produced nearly 3,000t in 2023 and almost 500t so far in 2024. They hold around 100t of stocks now, down by 100t from last month.
"We received three inquiries so far this week, while we received only one inquiry in total last week", said another producer in Hainan, who would like to sell rutile 95%min at around RMB10,500/t (USD1,460/t) EXW D/P and could accept no counteroffers at the moment, while they quoted RMB10,500/t (USD1,460/t) and could accept RMB10,400/t (USD1,446/t) if downstream consumers could purchase no less than 20t early last week. They last sold about 20t to a regular client at around RMB10,400/t (USD1,446/t) early last week and concluded no deals since then as they refused to accept prices lower than RMB10,500/t (USD1,460/t) so far this week. Encouraged by active inquiries from most consumers, the producer has confidence in the market next week and predicts that the mainstream prices would increase by around RMB100/t (USD14/t) in the following week.
The producer, with an annual production capacity of 6,000t, expects to produce around 150t in March, up by 50t from February. They produced nearly 2,800t in 2023 and almost 300t so far in 2024. They hold around 100t of stocks now, down by 50t from last month.
A producer in Hainan claimed that they received five inquiries so far this week, while they received three inquiries in total last week. "We quote RMB10,600/t (USD1,473/t) EXW D/P for rutile 95%min and could consider RMB10,500/t (USD1,460/t) for orders no less than 30t at present, while we quoted RMB10,500/t (USD1,460/t) and could accept RMB10,400/t (USD1,446/t) for the same quantity early last week", said the producer, who just sold around 30t to a regular client at about RMB10,500/t (USD1,460/t) early this week. As most consumers remain active in sending inquiries, the producer plans to raise their price by around RMB100/t (USD14/t) next week and predicts that the mainstream prices would increase by around RMB100/t (USD14/t) in the coming week.
Based on an annual production capacity of 30,000t, the producer would produce around 1,000t in March, up by 800t from last month as they remained out of the market during the Spring Festival holiday since early February. They produced nearly 3,000t in 2023 and almost 500t so far in 2024. They hold around 100t of stocks now, down by 100t from last month.
"We received three inquiries so far this week, while we received only one inquiry in total last week", said another producer in Hainan, who would like to sell rutile 95%min at around RMB10,500/t (USD1,460/t) EXW D/P and could accept no counteroffers at the moment, while they quoted RMB10,500/t (USD1,460/t) and could accept RMB10,400/t (USD1,446/t) if downstream consumers could purchase no less than 20t early last week. They last sold about 20t to a regular client at around RMB10,400/t (USD1,446/t) early last week and concluded no deals since then as they refused to accept prices lower than RMB10,500/t (USD1,460/t) so far this week. Encouraged by active inquiries from most consumers, the producer has confidence in the market next week and predicts that the mainstream prices would increase by around RMB100/t (USD14/t) in the following week.
The producer, with an annual production capacity of 6,000t, expects to produce around 150t in March, up by 50t from February. They produced nearly 2,800t in 2023 and almost 300t so far in 2024. They hold around 100t of stocks now, down by 50t from last month.
