Chinese mercury metal consumers bearish about market
2024-04-24 08:30:21 [Print]
BEIJING (Asian Metal) 24 Apr 24 – As most of the consumers would finish restocking before May Day holiday, Chinese mercury metal consumers hold bearish attitudes towards the price trend after the holiday and predict that the mainstream prices of Chinese mercury metal would decline then. Today, the mainstream prices of Chinese mercury metal 99.9%min hover at RMB1,170-1,190/kg (USD164.6-167.5/kg) Ex-VAT EXW D/P, in line with late last week. As the current price stays at a historical high, both consumers and suppliers are very cautious about the current price.
"Given that most consumers would complete their stocking before May Day, we anticipate that the mainstream prices of Chinese mercury metal would show a downward trend after holiday", said a consumer in Hunan, who complains that their orders of medicinal cinnabar shrink a lot due to high prices of mercury metal, and if prices continue rising, they would consider shifting to the handicraft industry. The consumer notes that their supplier offers RMB1,190/kg (USD167.5/kg) Ex-VAT EXW D/P for mercury metal 99.9%min and refuses any lower prices this week, the same as late last week. They bought 3t at this price yesterday and closed no deal last week.
With an annual consumption capacity of 150t for mercury metal, they expect to consume about 5t this month, in line with last month. They hold about 3t of stocks now.
"We were supposed to stock up for May this week, but considering the current high prices and our expectation that the prices would decrease after May Day, we plan to delay this purchase until after the holiday", said a consumer in Guizhou, who gets an offer of mercury metal 99.9%min at RMB1,200/kg (USD168.9/kg) Ex-VAT EXW D/P and they could buy as low as RMB1,180/kg (USD166.1/kg) this week, while the same supplier refused prices lower than RMB1,200/kg (USD168.9/kg) Ex-VAT EXW D/P late last week. They last bought 1.3t at RMB1,200/kg (USD168.9/kg) In-VAT EXW D/P on April 12. Considering that downstream inventory would be concentrated before the holiday, they expect that the post-holiday orders would decrease, and predict that the mainstream prices of Chinese mercury metal would decline after the holiday.
With an annual consumption capacity of 280t, the consumer estimates to consume about 7t this month, up by about 2t MoM. They hold about 3t of stocks now.
"Given that most consumers would complete their stocking before May Day, we anticipate that the mainstream prices of Chinese mercury metal would show a downward trend after holiday", said a consumer in Hunan, who complains that their orders of medicinal cinnabar shrink a lot due to high prices of mercury metal, and if prices continue rising, they would consider shifting to the handicraft industry. The consumer notes that their supplier offers RMB1,190/kg (USD167.5/kg) Ex-VAT EXW D/P for mercury metal 99.9%min and refuses any lower prices this week, the same as late last week. They bought 3t at this price yesterday and closed no deal last week.
With an annual consumption capacity of 150t for mercury metal, they expect to consume about 5t this month, in line with last month. They hold about 3t of stocks now.
"We were supposed to stock up for May this week, but considering the current high prices and our expectation that the prices would decrease after May Day, we plan to delay this purchase until after the holiday", said a consumer in Guizhou, who gets an offer of mercury metal 99.9%min at RMB1,200/kg (USD168.9/kg) Ex-VAT EXW D/P and they could buy as low as RMB1,180/kg (USD166.1/kg) this week, while the same supplier refused prices lower than RMB1,200/kg (USD168.9/kg) Ex-VAT EXW D/P late last week. They last bought 1.3t at RMB1,200/kg (USD168.9/kg) In-VAT EXW D/P on April 12. Considering that downstream inventory would be concentrated before the holiday, they expect that the post-holiday orders would decrease, and predict that the mainstream prices of Chinese mercury metal would decline after the holiday.
With an annual consumption capacity of 280t, the consumer estimates to consume about 7t this month, up by about 2t MoM. They hold about 3t of stocks now.
