Chinese titanium sponge market sees inactive inquiries
2024-04-11 08:00:33 [Print]
BEIJING (Asian Metal) 11 Apr 24 - As most consumers remain cautious in purchasing, Chinese titanium sponge market witnesses inactive inquiries in the past week. The mainstream prices of Chinese titanium sponge 99.7%min hover at RMB51,500-53,500/t (USD7,120-7,397/t) EXW D/A 180 days at present, unchanged from early last week. As most suppliers stay in no hurry to sell at low prices, insiders predict that the mainstream prices would remain stable in the coming week.
"We received 1-2 inquiries a day so far this week, while we received 2-3 inquiries a day last week", said a producer in Liaoning, who would like to sell titanium sponge 99.7%min at around RMB53,000/t (USD7,328/t) EXW D/A 180 days and consider RMB52,000/t (USD7,190/t) for orders no less than 30t at present, unchanged from early last week. They last sold about 30t at around RMB52,000/t (USD7,190/t) early last week. Due to firm production cost, the producer plans to hold their price stable next week and predicts that the mainstream prices would remain unchanged in the coming week.
The producer, based on an annual production capacity of 21,000t, expects to produce around 1,700t in April, unchanged MoM. They produced nearly 20,000t in 2023 and about 5,100t so far in 2024. They hold around 600t of stocks at the moment, up by 100t from last month.
A trader in Liaoning notes that they received three inquiries so far this week, while they received two inquiries in total last week. "We offer RMB52,500/t (USD7,259/t) EXW D/A 180 days for titanium sponge 99.7%min and could accept around RMB52,000/t (USD7,190/t) for orders no less than 10t at present, the same as early last week", said the trader, who last sold around 10t at about RMB52,000/t (USD7,190/t) to a regular client early last week. Although most consumers remain inactive in sending inquiries, the trader stays in no hurry to sell at low prices and predicts that the mainstream prices would keep stable in the following week as most suppliers face firm production cost.
With a regular trading volume of 40t, the trader expects to sell around 40t in April, unchanged from March. They hold around 20t of stocks now, unchanged from last month. They sold around 100t so far in 2024 and around 500t in 2023.
"We received 1-2 inquiries a day so far this week, while we received 2-3 inquiries a day last week", said a producer in Liaoning, who would like to sell titanium sponge 99.7%min at around RMB53,000/t (USD7,328/t) EXW D/A 180 days and consider RMB52,000/t (USD7,190/t) for orders no less than 30t at present, unchanged from early last week. They last sold about 30t at around RMB52,000/t (USD7,190/t) early last week. Due to firm production cost, the producer plans to hold their price stable next week and predicts that the mainstream prices would remain unchanged in the coming week.
The producer, based on an annual production capacity of 21,000t, expects to produce around 1,700t in April, unchanged MoM. They produced nearly 20,000t in 2023 and about 5,100t so far in 2024. They hold around 600t of stocks at the moment, up by 100t from last month.
A trader in Liaoning notes that they received three inquiries so far this week, while they received two inquiries in total last week. "We offer RMB52,500/t (USD7,259/t) EXW D/A 180 days for titanium sponge 99.7%min and could accept around RMB52,000/t (USD7,190/t) for orders no less than 10t at present, the same as early last week", said the trader, who last sold around 10t at about RMB52,000/t (USD7,190/t) to a regular client early last week. Although most consumers remain inactive in sending inquiries, the trader stays in no hurry to sell at low prices and predicts that the mainstream prices would keep stable in the following week as most suppliers face firm production cost.
With a regular trading volume of 40t, the trader expects to sell around 40t in April, unchanged from March. They hold around 20t of stocks now, unchanged from last month. They sold around 100t so far in 2024 and around 500t in 2023.
