Chinese lutetium oxide market sees weak demand
2024-05-01 09:31:53 [Print]
BEIJING (Asian Metal) 1 May 24 - Dragged by dim LED industry, the Chinese lutetium oxide 99.99%min market witnessed sift demand over the past one week. The current Chinese lutetium oxide 99.99%min mainstream prices drop to RMB5,350-5,450/kg (USD739-753/kg) EXW D/P, down by around RMB50/kg (USD6.9/kg) from one week ago. Suppliers prefer to hold stocks rather than mark down prices further, so insiders predict that the Chinese lutetium oxide 99.99%min mainstream prices would hover at current levels in the coming week.
A producer in South China reveals that lutetium oxide 99.99%min demand from his clients softened over the past week and his output in April reduced by around 100kg MoM. He lowers quotation to around RMB5,400/kg (USD746/kg) EXW D/P and considers selling at prices not lower than RMB5,350/kg (USD739/kg) now, while he had no intention to sell at prices below RMB5,400/kg (USD749/kg) one week ago. "I last sold 200kg at around RMB5,400/kg (USD749/kg) ten days ago," said the producer, who failed to get any inquiry over the past ten days and communicated two of his regular clients yesterday but these clients had no intention to purchase. He complains about low profits and prefers to hold stocks rather than lower prices further and predicts that the Chinese lutetium oxide 99.99%min mainstream prices would level off in the coming week.
The producer, on basis of an annual production capacity of 10t of lutetium oxide 99.99%min, produced approximately five tons and 1.8t last year and so far this year. His output in April recorded at around 500kg, compared with 600kg in March. He has around 400kg of stocks now, up by 100kg MoM.
A consumer in Jiangsu province discloses that his lutetium oxide 99.99%min consumption volume in April dropped by around 100kg MoM due to inactive LED industry. His regular lutetium oxide 99.99%min suppliers lower quotation to about RMB5,600/kg (USD773/kg) EXW T/T 90 days for him at present. Based on his experience, he could buy at around RMB5,500/kg (USD759/kg) EXW T/T 90 days at present, while he faced great difficulty in purchasing at prices lower than RMB5,600/kg (USD773/kg) EXW T/T 90 days one week ago. "I concluded my latest procurement ten days ago, when I bought 150kg at around RMB5,600/kg (USD773/kg) EXW T/T 90 days," said the consumer. He plans to hold a wait-and-see attitude in the coming week and predicts that the Chinese lutetium oxide 99.99%min mainstream prices would keep standing at current levels in the coming week.
With an annual consumption volume of around 10t of lutetium oxide 99.99%min, the consumer's consumption volumes in 2023 and so far in 2024 recorded at approximately four tons and 1.1t respectively. He consumed about 300kg in April, compared with around 400kg in March. He holds an inventory of around 100kg now, down by 50kg MoM.
A producer in South China reveals that lutetium oxide 99.99%min demand from his clients softened over the past week and his output in April reduced by around 100kg MoM. He lowers quotation to around RMB5,400/kg (USD746/kg) EXW D/P and considers selling at prices not lower than RMB5,350/kg (USD739/kg) now, while he had no intention to sell at prices below RMB5,400/kg (USD749/kg) one week ago. "I last sold 200kg at around RMB5,400/kg (USD749/kg) ten days ago," said the producer, who failed to get any inquiry over the past ten days and communicated two of his regular clients yesterday but these clients had no intention to purchase. He complains about low profits and prefers to hold stocks rather than lower prices further and predicts that the Chinese lutetium oxide 99.99%min mainstream prices would level off in the coming week.
The producer, on basis of an annual production capacity of 10t of lutetium oxide 99.99%min, produced approximately five tons and 1.8t last year and so far this year. His output in April recorded at around 500kg, compared with 600kg in March. He has around 400kg of stocks now, up by 100kg MoM.
A consumer in Jiangsu province discloses that his lutetium oxide 99.99%min consumption volume in April dropped by around 100kg MoM due to inactive LED industry. His regular lutetium oxide 99.99%min suppliers lower quotation to about RMB5,600/kg (USD773/kg) EXW T/T 90 days for him at present. Based on his experience, he could buy at around RMB5,500/kg (USD759/kg) EXW T/T 90 days at present, while he faced great difficulty in purchasing at prices lower than RMB5,600/kg (USD773/kg) EXW T/T 90 days one week ago. "I concluded my latest procurement ten days ago, when I bought 150kg at around RMB5,600/kg (USD773/kg) EXW T/T 90 days," said the consumer. He plans to hold a wait-and-see attitude in the coming week and predicts that the Chinese lutetium oxide 99.99%min mainstream prices would keep standing at current levels in the coming week.
With an annual consumption volume of around 10t of lutetium oxide 99.99%min, the consumer's consumption volumes in 2023 and so far in 2024 recorded at approximately four tons and 1.1t respectively. He consumed about 300kg in April, compared with around 400kg in March. He holds an inventory of around 100kg now, down by 50kg MoM.
