Chinese rutile market sees rare deals
2024-04-24 08:29:50 [Print]
BEIJING (Asian Metal) 24 Apr 24 - As most consumers hold wait-and-see attitudes, Chinese rutile market witnesses rare deals in the past week. The current mainstream prices of Chinese rutile 95%min hover at RMB10,100-10,400/t (USD1,394-1,435/t) EXW D/P, unchanged from early last week. As most suppliers have no confidence in the market, insiders predict that the mainstream prices would decrease in the coming week.
"We failed to conclude any deals after we last sold about 100t to a regular client at around RMB10,100/t (USD1,394/t) early last week", said a producer in Hainan, who would like to sell rutile 95%min at around RMB10,200/t (USD1,408/t) EXW D/P and accept RMB10,100/t (USD1,394/t) for orders no less than 100t at the moment, unchanged from early last week. They received no inquiry so far this week, while they received three inquiries in total last week. As most consumers remain inactive in sending inquiries, the producer plans to accept another counteroffer of 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 30,000t, the producer would produce around 1,000t in April, unchanged from last month. They produced nearly 3,000t in 2023 and almost 1,500t so far in 2024. They hold around 100t of stocks now, up by 50t from last month.
Another producer in Tianjin notes that they concluded no deals after they last sold around 30t to a regular client at about RMB10,400/t (USD1,435/t) early last week. "We offer RMB10,500/t (USD1,449/t) EXW D/P for rutile 95%min and consider RMB10,400/t (USD1,435/t) if clients could purchase no less than 30t at the moment, the same as early last week", said the producer, who received one inquiry so far this week, while they received four inquiries in total last week. As most consumers hold wait-and-see attitudes, the producer has no confidence in the market 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 20,000t, the producer would produce around 500t in April, unchanged from last month. They produced nearly 2,400t in 2023 and almost 1,200t so far in 2024. They hold around 200t of stocks now, unchanged from last month.
"We failed to conclude any deals after we last sold about 100t to a regular client at around RMB10,100/t (USD1,394/t) early last week", said a producer in Hainan, who would like to sell rutile 95%min at around RMB10,200/t (USD1,408/t) EXW D/P and accept RMB10,100/t (USD1,394/t) for orders no less than 100t at the moment, unchanged from early last week. They received no inquiry so far this week, while they received three inquiries in total last week. As most consumers remain inactive in sending inquiries, the producer plans to accept another counteroffer of 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 30,000t, the producer would produce around 1,000t in April, unchanged from last month. They produced nearly 3,000t in 2023 and almost 1,500t so far in 2024. They hold around 100t of stocks now, up by 50t from last month.
Another producer in Tianjin notes that they concluded no deals after they last sold around 30t to a regular client at about RMB10,400/t (USD1,435/t) early last week. "We offer RMB10,500/t (USD1,449/t) EXW D/P for rutile 95%min and consider RMB10,400/t (USD1,435/t) if clients could purchase no less than 30t at the moment, the same as early last week", said the producer, who received one inquiry so far this week, while they received four inquiries in total last week. As most consumers hold wait-and-see attitudes, the producer has no confidence in the market 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 20,000t, the producer would produce around 500t in April, unchanged from last month. They produced nearly 2,400t in 2023 and almost 1,200t so far in 2024. They hold around 200t of stocks now, unchanged from last month.
