Chinese rutile market prices down
2024-04-02 08:22:47 [Print]
BEIJING (Asian Metal) 2 Apr 24 - As most consumers remained inactive in placing orders, Chinese rutile market prices decreased in the past week. The current mainstream prices of Chinese rutile 95%min decreased to RMB10,200-10,500/t (USD1,411-1,452/t) EXW D/P, down by RMB100/t (USD14/t) from early last week. As most suppliers have no confidence in the market, insiders predict that the mainstream prices would decrease further in the coming week.
"We would like to sell rutile 95%min at around RMB10,300/t (USD1,425/t) EXW D/P and could accept RMB10,200/t (USD1,411/t) for orders no less than 30t at the moment, while we quoted RMB10,400/t (USD1,438/t) and could consider RMB10,300/t (USD1,425/t) early last week", said a producer in Hainan, who last sold about 30t to a regular client at around RMB10,300/t (USD1,425/t) early last week. They received one inquiry so far this week, while they received four inquiries in total last week. As most consumers remain cautious in purchasing, the producer plans to lower their price by around RMB100/t (USD14/t) next week and predicts that the mainstream prices would decrease by around RMB100/t (USD14/t) in the coming week.
Based on an annual production capacity of 12,000t, the producer produced around 500t in March, up by 200t from February. They produced nearly 10,000t in 2023 and around 1,500t so far in 2024. They hold around 300t of stocks now, up by 100t from last month.
Another producer in Guangdong noted that they quoted RMB10,500/t (USD1,452/t) EXW D/P for rutile 95%min and could consider RMB10,400/t (USD1,438/t) if clients could purchase no less than 100t today, while they quoted RMB10,600/t (USD1,466/t) and could accept RMB10,500/t (USD1,452/t) for the same quantity early last week. "We received no inquiry after we last sold around 100t to a regular client at about RMB10,500/t (USD1,452/t) early last week", said the producer, who received two inquiries in total last week. As most consumers remain inactive in sending inquiries, the producer remains pessimistic about the market next week and predicts that the mainstream prices would decrease by around RMB100/t (USD14/t) in the following week.
With an annual production capacity of 120,000t, the producer produced around 2,000t in March, unchanged from last month. They produced nearly 20,000t in 2023 and almost 5,000t so far in 2024. They hold around 1,000t of stocks now, unchanged from last month.
"We would like to sell rutile 95%min at around RMB10,300/t (USD1,425/t) EXW D/P and could accept RMB10,200/t (USD1,411/t) for orders no less than 30t at the moment, while we quoted RMB10,400/t (USD1,438/t) and could consider RMB10,300/t (USD1,425/t) early last week", said a producer in Hainan, who last sold about 30t to a regular client at around RMB10,300/t (USD1,425/t) early last week. They received one inquiry so far this week, while they received four inquiries in total last week. As most consumers remain cautious in purchasing, the producer plans to lower their price by around RMB100/t (USD14/t) next week and predicts that the mainstream prices would decrease by around RMB100/t (USD14/t) in the coming week.
Based on an annual production capacity of 12,000t, the producer produced around 500t in March, up by 200t from February. They produced nearly 10,000t in 2023 and around 1,500t so far in 2024. They hold around 300t of stocks now, up by 100t from last month.
Another producer in Guangdong noted that they quoted RMB10,500/t (USD1,452/t) EXW D/P for rutile 95%min and could consider RMB10,400/t (USD1,438/t) if clients could purchase no less than 100t today, while they quoted RMB10,600/t (USD1,466/t) and could accept RMB10,500/t (USD1,452/t) for the same quantity early last week. "We received no inquiry after we last sold around 100t to a regular client at about RMB10,500/t (USD1,452/t) early last week", said the producer, who received two inquiries in total last week. As most consumers remain inactive in sending inquiries, the producer remains pessimistic about the market next week and predicts that the mainstream prices would decrease by around RMB100/t (USD14/t) in the following week.
With an annual production capacity of 120,000t, the producer produced around 2,000t in March, unchanged from last month. They produced nearly 20,000t in 2023 and almost 5,000t so far in 2024. They hold around 1,000t of stocks now, unchanged from last month.
