Chinese mercury metal market participants expect steady prices
2024-03-26 08:28:15 [Print]
BEIJING (Asian Metal) 26 Mar 24 - Under the high prices of producers but cautious attitudes of consumers, Chinese mercury metal market participants expect steady prices this week. Today, the prevailing prices of Chinese mercury metal 99.999%min stand at RMB1,060-1,070/kg (USD146.5-147.9/kg) Ex-VAT EXW D/P, up by about RMB20/kg (USD2.76/kg) from late last week. Given that suppliers prefer to hold their prices stable, insiders predict that the prevailing prices of Chinese mercury metal would remain stable this week.
"Our suppliers have no intention to decrease their prices, as a consequence, we believe that the prevailing prices of Chinese mercury metal would stay steady this week", noted a consumer in Jiangsu, who plans to delay their purchase of about 1-2t due to their cautious attitudes towards the price trend. They got an offer of mercury metal 99.999%min at RMB1,200/kg (USD165.8/kg) In-VAT EXW D/P without any concession today, while they didn't inquire late last week. They didn't place orders after buying 2t at RMB1,100/kg (USD152.0/kg) In-VAT EXW D/P early March.
With an annual consumption capacity of 50t, they estimate to consume about 1.8t this month, the same as last month. They hold about 1t of stocks for the time being.
"Demand of cinnabar remains very good now, and our consumers buy normally. But given that the current prices stay at the historically high level, we predict that the prevailing prices of Chinese mercury metal would stand at the present level this week", noted a trader in Guizhou, who offers RMB1,080/kg (USD149.3/kg) Ex-VAT EXW and could consider a discount of RMB10/kg (USD1.38/kg) for mercury metal 99.999%min today, while they refused prices lower than RMB1,050/kg (USD145.1/kg) Ex-VAT EXW late last week. They sold 0.5t at RMB1,080/kg (USD149.3/kg) this morning and the same volume at RMB1,050/kg (USD145.1/kg) late last week.
With a regular monthly trading volume of about 10t, they expect to sell about 20t in March, up by about 10t MoM. They hold about 2t of stocks now.
"Our suppliers have no intention to decrease their prices, as a consequence, we believe that the prevailing prices of Chinese mercury metal would stay steady this week", noted a consumer in Jiangsu, who plans to delay their purchase of about 1-2t due to their cautious attitudes towards the price trend. They got an offer of mercury metal 99.999%min at RMB1,200/kg (USD165.8/kg) In-VAT EXW D/P without any concession today, while they didn't inquire late last week. They didn't place orders after buying 2t at RMB1,100/kg (USD152.0/kg) In-VAT EXW D/P early March.
With an annual consumption capacity of 50t, they estimate to consume about 1.8t this month, the same as last month. They hold about 1t of stocks for the time being.
"Demand of cinnabar remains very good now, and our consumers buy normally. But given that the current prices stay at the historically high level, we predict that the prevailing prices of Chinese mercury metal would stand at the present level this week", noted a trader in Guizhou, who offers RMB1,080/kg (USD149.3/kg) Ex-VAT EXW and could consider a discount of RMB10/kg (USD1.38/kg) for mercury metal 99.999%min today, while they refused prices lower than RMB1,050/kg (USD145.1/kg) Ex-VAT EXW late last week. They sold 0.5t at RMB1,080/kg (USD149.3/kg) this morning and the same volume at RMB1,050/kg (USD145.1/kg) late last week.
With a regular monthly trading volume of about 10t, they expect to sell about 20t in March, up by about 10t MoM. They hold about 2t of stocks now.
