Chinese praseodymium oxide prices move up
2024-04-08 08:33:51 [Print]
BEIJING (Asian Metal) 8 Apr 24 - Chinese praseodymium oxide 99.5%min suppliers don't face stock pressure and increase prices. As a consequence, the current Chinese praseodymium oxide 99.5%min mainstream prices rise to RMB383,000-400,000/t (USD52,946-55,296/t) EXW D/P, an increase of around RMB15,000/t (USD2,074/t) from one week ago. Suppliers plan to lift prices further and prefer to lose orders rather than mark down prices, insiders forecasts that the Chinese praseodymium oxide 99.5%min mainstream prices would move up further in the forthcoming week.
A producer in South China claims that he lifts praseodymium oxide 99.5%min quotation to about RMB400,000/t (USD55,296/t) EXW D/P and refuses to accept any counteroffer now, while he has intention to sell at about RMB380,000/t (USD52,531/t) one week ago, when he concluded his latest sale of one ton at around RMB380,000/t (USD52,531/t). "Praseodymium oxide 99.5%min market witnesses tight supply and I plan to increase praseodymium oxide 99.5%min prices further in the coming week," said the producer, who predicts that the Chinese praseodymium oxide 99.5%min mainstream prices would go up by around RMB10,000/t (USD1,382/t) in the coming week.
The producer, on basis of an annual production capacity of 180t of praseodymium oxide 99.5%min, produced approximately 80t and 10t respectively in 2023 and so far in 2024. He expects no output this month, unchanged MoM. He doesn't hold stock at the moment, down by three tons MoM.
A consumer in Guangdong province disclose that his regular praseodymium oxide 99.5%min suppliers quote about RMB395,000/t (USD54,605/t) EXW D/P for him at present. Based on his experience, he couldn't purchase at prices lower than RMB390,000/t (USD53,914/t) now, while he could replenish inventory at around RMB375,000/t (USD51,840/t) one week ago. "I sent an inquiry of two tons of praseodymium oxide 99.5%min three days ago and got quotations of around RMB385,000/t (USD53,223/t). I delayed purchasing," said the consumer, who would keep watching the market in the coming week. Given that suppliers play dominate roles and continue increasing prices, he forecasts that the Chinese praseodymium oxide 99.5%min market would see further price increase in the coming week.
With an annual consumption capacity of 72t of praseodymium oxide 99.5%min, the consumer consumed around six tons so far this year, compared with approximately 30t last year. He estimates to consume around two tons this month, compared with about three tons last month. He holds around three tons of stocks at present, without much change MoM.
A producer in South China claims that he lifts praseodymium oxide 99.5%min quotation to about RMB400,000/t (USD55,296/t) EXW D/P and refuses to accept any counteroffer now, while he has intention to sell at about RMB380,000/t (USD52,531/t) one week ago, when he concluded his latest sale of one ton at around RMB380,000/t (USD52,531/t). "Praseodymium oxide 99.5%min market witnesses tight supply and I plan to increase praseodymium oxide 99.5%min prices further in the coming week," said the producer, who predicts that the Chinese praseodymium oxide 99.5%min mainstream prices would go up by around RMB10,000/t (USD1,382/t) in the coming week.
The producer, on basis of an annual production capacity of 180t of praseodymium oxide 99.5%min, produced approximately 80t and 10t respectively in 2023 and so far in 2024. He expects no output this month, unchanged MoM. He doesn't hold stock at the moment, down by three tons MoM.
A consumer in Guangdong province disclose that his regular praseodymium oxide 99.5%min suppliers quote about RMB395,000/t (USD54,605/t) EXW D/P for him at present. Based on his experience, he couldn't purchase at prices lower than RMB390,000/t (USD53,914/t) now, while he could replenish inventory at around RMB375,000/t (USD51,840/t) one week ago. "I sent an inquiry of two tons of praseodymium oxide 99.5%min three days ago and got quotations of around RMB385,000/t (USD53,223/t). I delayed purchasing," said the consumer, who would keep watching the market in the coming week. Given that suppliers play dominate roles and continue increasing prices, he forecasts that the Chinese praseodymium oxide 99.5%min market would see further price increase in the coming week.
With an annual consumption capacity of 72t of praseodymium oxide 99.5%min, the consumer consumed around six tons so far this year, compared with approximately 30t last year. He estimates to consume around two tons this month, compared with about three tons last month. He holds around three tons of stocks at present, without much change MoM.
