Chinese reduced ilmenite market prices increase
2024-03-26 08:28:42 [Print]
BEIJING (Asian Metal) 26 Mar 24 - As most suppliers faced higher production cost, Chinese reduced ilmenite market witnessed higher prices in the past week. The current mainstream prices of Chinese reduced ilmenite 56%min increased to RMB5,050-5,150/t (USD701-714/t) EXW D/A 180 days, up by RMB50/t (USD7/t) from early last week. As most consumers remain active in sending inquiries, insiders predict that the reduced ilmenite prices would show uptrend in the coming week.
A producer in Hebei claimed that as raw materials' prices increased, they would like to sell reduced ilmenite 56%min at around RMB5,200/t (USD721/t) EXW D/A 180 days and could accept RMB5,150/t (USD714/t) for orders no less than 100t today, while they quoted RMB5,150/t (USD714/t) and could accept RMB5,100/t (USD707/t) for the same quantity early last week. "We last sold about 100t at around RMB5,100/t (USD707/t) to a regular client early last week", said the producer, who received two inquiries so far this week, while they received only one inquiry last week. As most consumers become active in sending inquiries, the producer plans to raise their price by around RMB50/t (USD7/t) next week and predicts that the mainstream prices would increase by around RMB50/t (USD7/t) in the coming week.
With an annual production capacity of 30,000t, the producer expects to produce about 1,800t in March, up by 300t from last month. They produced nearly 20,000t in 2023 and almost 5,000t so far in 2024.They hold around 500t of stocks now, unchanged from last month.
"Encouraged by higher production cost, we quote RMB5,150/t (USD714/t) for reduced ilmenite 56%min EXW D/A 180 days and could consider RMB5,100/t (USD707/t) if clients could purchase no less than 30t at present, while we offered RMB5,100/t (USD707/t) and could accept RMB5,050/t (USD701/t) for the same quantity early last week", said another producer in Tianjin, who received one inquiry so far this week, while they received no inquiry last week. They last sold about 30t at around RMB5,050/t (USD701/t) to a regular client in mid-March. Encouraged by rebounding demand from many consumers, the producer remains optimistic about the market next week and predicts that the mainstream prices would increase by around RMB50/t (USD7/t) in the following week.
The producer, with an annual production capacity of 50,000t, expects to produce 2,000t in March, up by 2,000t from last month as they remained out of production in February. They produced nearly 26,000t in 2023 and around 4,000t so far in 2024. They hold about 500t of stocks now, unchanged from last month.
A producer in Hebei claimed that as raw materials' prices increased, they would like to sell reduced ilmenite 56%min at around RMB5,200/t (USD721/t) EXW D/A 180 days and could accept RMB5,150/t (USD714/t) for orders no less than 100t today, while they quoted RMB5,150/t (USD714/t) and could accept RMB5,100/t (USD707/t) for the same quantity early last week. "We last sold about 100t at around RMB5,100/t (USD707/t) to a regular client early last week", said the producer, who received two inquiries so far this week, while they received only one inquiry last week. As most consumers become active in sending inquiries, the producer plans to raise their price by around RMB50/t (USD7/t) next week and predicts that the mainstream prices would increase by around RMB50/t (USD7/t) in the coming week.
With an annual production capacity of 30,000t, the producer expects to produce about 1,800t in March, up by 300t from last month. They produced nearly 20,000t in 2023 and almost 5,000t so far in 2024.They hold around 500t of stocks now, unchanged from last month.
"Encouraged by higher production cost, we quote RMB5,150/t (USD714/t) for reduced ilmenite 56%min EXW D/A 180 days and could consider RMB5,100/t (USD707/t) if clients could purchase no less than 30t at present, while we offered RMB5,100/t (USD707/t) and could accept RMB5,050/t (USD701/t) for the same quantity early last week", said another producer in Tianjin, who received one inquiry so far this week, while they received no inquiry last week. They last sold about 30t at around RMB5,050/t (USD701/t) to a regular client in mid-March. Encouraged by rebounding demand from many consumers, the producer remains optimistic about the market next week and predicts that the mainstream prices would increase by around RMB50/t (USD7/t) in the following week.
The producer, with an annual production capacity of 50,000t, expects to produce 2,000t in March, up by 2,000t from last month as they remained out of production in February. They produced nearly 26,000t in 2023 and around 4,000t so far in 2024. They hold about 500t of stocks now, unchanged from last month.
