Chinese mercury metal market participants bearish about the price trend
2024-04-26 08:17:54 [Print]
BEIJING (Asian Metal) 26 Apr 24 - Because consumers would finish restocking after holiday of May Day, Chinese mercury metal market participants hold pessimistic attitudes towards the price trend and predict that the mainstream prices of Chinese mercury metal would go down after May Day holiday. Today, the mainstream prices of Chinese mercury metal 99.999%min hover at RMB1,200-1,220/kg (USD168.9-171.7/kg) Ex-VAT EXW D/P, without much change from late last week.
"We anticipate that the mainstream prices of Chinese mercury metal would move down after May Day holiday as the peak season of purchasing would end then", said a producer in Guizhou, who refuses prices lower than RMB1,220/kg (USD171.7/kg) Ex-VAT EXW D/P for mercury metal 99.999%min this week, when they close no deal. The producer offers RMB1,230/kg (USD173.1/kg) Ex-VAT EXW D/P without any concession late last week and they sold 2t at RMB1,230/kg (USD173.1/kg) then. The producer notes that they only deal with back-to-back orders due to the high prices of mercury metal with high risks.
With an annual production capacity of 150t, they plan to produce about 2t this month, down by about 1t MoM. They hold around 2t of stocks now.
"We believe that the prevailing prices of Chinese mercury metal would move down after May Day holiday because consumers would buy less then", said a consumer in Jiangsu, adding that they receive an offer of mercury metal 99.999%min at RMB1,280/kg (USD180.1/kg) In-VAT EXW D/P without any concession and plan to buy 2-3t this time. The same supplier offered RMB1,250/kg (USD175.9/kg) In-VAT EXW D/P and refused any lower prices late last week. They last bought 3t at RMB1,180/kg (USD166.1/kg) In-VAT EXW D/P on March 25.
Based on an annual consumption capacity of 50t, the consumer estimates to consume about 1.8t this month, in line with last month. They hold around 1t of stocks at the moment.
"We anticipate that the mainstream prices of Chinese mercury metal would move down after May Day holiday as the peak season of purchasing would end then", said a producer in Guizhou, who refuses prices lower than RMB1,220/kg (USD171.7/kg) Ex-VAT EXW D/P for mercury metal 99.999%min this week, when they close no deal. The producer offers RMB1,230/kg (USD173.1/kg) Ex-VAT EXW D/P without any concession late last week and they sold 2t at RMB1,230/kg (USD173.1/kg) then. The producer notes that they only deal with back-to-back orders due to the high prices of mercury metal with high risks.
With an annual production capacity of 150t, they plan to produce about 2t this month, down by about 1t MoM. They hold around 2t of stocks now.
"We believe that the prevailing prices of Chinese mercury metal would move down after May Day holiday because consumers would buy less then", said a consumer in Jiangsu, adding that they receive an offer of mercury metal 99.999%min at RMB1,280/kg (USD180.1/kg) In-VAT EXW D/P without any concession and plan to buy 2-3t this time. The same supplier offered RMB1,250/kg (USD175.9/kg) In-VAT EXW D/P and refused any lower prices late last week. They last bought 3t at RMB1,180/kg (USD166.1/kg) In-VAT EXW D/P on March 25.
Based on an annual consumption capacity of 50t, the consumer estimates to consume about 1.8t this month, in line with last month. They hold around 1t of stocks at the moment.
