Chinese cerium oxide market sees stable prices
2024-03-27 08:30:13 [Print]
BEIJING (Asian Metal) 27 Mar 24 - Although some buyers became inactive in replenishing stocks, Chinese cerium oxide 99.9%min suppliers held prices steady over the past week. Therefore, the current Chinese cerium oxide 99.9%min mainstream prices stayed at RMB7,400-7,700/t (USD1,025-1,067/t) EXW D/P, without much change from one week ago. In view that suppliers still prefer to hold stocks rather than mark down prices, insiders forecasted that the Chinese cerium oxide 99.9%min mainstream prices would continue hovering at current levels in the upcoming week.
A producer in North China revealed that he still quoted about RMB7,700/t (USD1,067/t) EXW D/P for cerium oxide 99.9%min this Tuesday and considers selling at around RMB7,500/t (USD1,039/t) and RMB7,400/t (USD1,025/t) for orders no less than 30t and 50t now, in line with one week ago. He concluded his latest sale the day before yesterday, when he sold 50t at around RMB7,400/t (USD1,025/t). "I prefer to hold reduce output rather than mark down prices due to our low profit," said the producer, who foresaw further steady prices in the Chinese cerium oxide 99.9%min market in the forthcoming week.
The producer, on basis of an annual production capacity of 10,800t of cerium oxide 99.9%min, produced approximately 7,400t and 800t respectively in 2023 and so far in 2024. He estimated an output of around 300t in March, without much change MoM. He holds an inventory of about 200t now, down by 100t MoM.
A producer in South China revealed that he held cerium oxide 99.9%min quotation steady at about RMB7,700/t (USD1,067/t) EXW D/P and had intention to sell at around RMB7,600/t (USD1,053/t) today, the same as one week ago. He last sold 15t at around RMB7,600/t (USD1,053/t) the day before yesterday. "I only got around one inquiry over the past two days, while I received about three inquiries every day one week ago," said the producer, who complained about low profit and preferred to hold stocks rather than lower prices. He forecasted that the Chinese cerium oxide 99.9%min mainstream prices would continue staying at current levels in the coming week as suppliers refuse to make concession on prices.
With an annual production capacity of 11,000t of cerium oxide 99.9%min, the producer expected to produce about 900t this month, unchanged MoM. He produced about 1,900t so far this year, compared with approximately 9,600t last year. He has about 300t of stocks at present, in line with one month ago.
A producer in North China revealed that he still quoted about RMB7,700/t (USD1,067/t) EXW D/P for cerium oxide 99.9%min this Tuesday and considers selling at around RMB7,500/t (USD1,039/t) and RMB7,400/t (USD1,025/t) for orders no less than 30t and 50t now, in line with one week ago. He concluded his latest sale the day before yesterday, when he sold 50t at around RMB7,400/t (USD1,025/t). "I prefer to hold reduce output rather than mark down prices due to our low profit," said the producer, who foresaw further steady prices in the Chinese cerium oxide 99.9%min market in the forthcoming week.
The producer, on basis of an annual production capacity of 10,800t of cerium oxide 99.9%min, produced approximately 7,400t and 800t respectively in 2023 and so far in 2024. He estimated an output of around 300t in March, without much change MoM. He holds an inventory of about 200t now, down by 100t MoM.
A producer in South China revealed that he held cerium oxide 99.9%min quotation steady at about RMB7,700/t (USD1,067/t) EXW D/P and had intention to sell at around RMB7,600/t (USD1,053/t) today, the same as one week ago. He last sold 15t at around RMB7,600/t (USD1,053/t) the day before yesterday. "I only got around one inquiry over the past two days, while I received about three inquiries every day one week ago," said the producer, who complained about low profit and preferred to hold stocks rather than lower prices. He forecasted that the Chinese cerium oxide 99.9%min mainstream prices would continue staying at current levels in the coming week as suppliers refuse to make concession on prices.
With an annual production capacity of 11,000t of cerium oxide 99.9%min, the producer expected to produce about 900t this month, unchanged MoM. He produced about 1,900t so far this year, compared with approximately 9,600t last year. He has about 300t of stocks at present, in line with one month ago.
