Chinese PrNd oxide prices move down
2024-03-19 08:32:34 [Print]
BEIJING (Asian Metal) 19 Mar 24 - Chinese PrNd oxide suppliers marked down prices in order to gain orders over the past three days. As a consequence, the current Chinese PrNd oxide mainstream prices dropped to RMB345,000-350,000/t (USD47,930-48,624/t) EXW D/P, a decline of around RMB2,000/t (USD278/t) from late last week. Given that buyers purchased inactively and lower target prices continuously, insiders forecasted that the Chinese PrNd oxide mainstream prices still have room to go down in the forthcoming week.
A producer in South China revealed that he lowered PrNd oxide quotation to around RMB350,000/t (USD48,624/t) EXW D/P and had intention to sell at around RMB348,000/t (USD48,347/t) this Monday, while he refused to sell at prices below RMB352,000/t (USD48,902/t) late last week. "I concluded my latest sale early last week, when I sold 10t at around RMB353,000/t (USD49,041/t)," said the producer, who failed to get any inquiries this Monday and lacked confidence towards the PrNd oxide demand outlook in the coming month. He forecasted that the Chinese PrNd oxide market would witness further price decrease in the upcoming week due to consumers' wait-and-see attitudes.
The producer, on basis of an annual production capacity of 1,560t of PrNd oxide, produced around 270t so far this year, compared with approximately 1,320t last year. He expected an output of around 110t this month, compared with about 100t last month. He doesn't have stock at the moment, unchanged MoM.
A producer in Inner Mongolia claimed that they quoted about RMB348,000/t (USD48,347/t) EXW D/P and considered selling at around RMB345,000/t (USD47,930/t) today, while they had no intention to sell at prices below RMB347,000/t (USD48,208/t) late last week, when they last sold 20t at about RMB347,000/t (USD48,208/t). "We used to get around four inquiries every day early last week but got only around two inquiries since late last week," said the producer, who forecasted that the Chinese PrNd oxide mainstream prices would drop by about RMB5,000/t (USD695/t) in the coming week due to weak demand from buyers.
With an annual production capacity of 4,200t of PrNd oxide, the producer estimated an output of around 50t this month, compared with no output last month. He produced approximately 560t and 30t respectively last year and so far this year. They hold no inventory at the moment, without much change MoM.
A producer in South China revealed that he lowered PrNd oxide quotation to around RMB350,000/t (USD48,624/t) EXW D/P and had intention to sell at around RMB348,000/t (USD48,347/t) this Monday, while he refused to sell at prices below RMB352,000/t (USD48,902/t) late last week. "I concluded my latest sale early last week, when I sold 10t at around RMB353,000/t (USD49,041/t)," said the producer, who failed to get any inquiries this Monday and lacked confidence towards the PrNd oxide demand outlook in the coming month. He forecasted that the Chinese PrNd oxide market would witness further price decrease in the upcoming week due to consumers' wait-and-see attitudes.
The producer, on basis of an annual production capacity of 1,560t of PrNd oxide, produced around 270t so far this year, compared with approximately 1,320t last year. He expected an output of around 110t this month, compared with about 100t last month. He doesn't have stock at the moment, unchanged MoM.
A producer in Inner Mongolia claimed that they quoted about RMB348,000/t (USD48,347/t) EXW D/P and considered selling at around RMB345,000/t (USD47,930/t) today, while they had no intention to sell at prices below RMB347,000/t (USD48,208/t) late last week, when they last sold 20t at about RMB347,000/t (USD48,208/t). "We used to get around four inquiries every day early last week but got only around two inquiries since late last week," said the producer, who forecasted that the Chinese PrNd oxide mainstream prices would drop by about RMB5,000/t (USD695/t) in the coming week due to weak demand from buyers.
With an annual production capacity of 4,200t of PrNd oxide, the producer estimated an output of around 50t this month, compared with no output last month. He produced approximately 560t and 30t respectively last year and so far this year. They hold no inventory at the moment, without much change MoM.
