BEIJING (Asian Metal) 26 Feb 15 Chinese lutetium oxide 99.99%min market witnessed soft demand and rare inquiries over the past week. Mainstream separation plants still quoted at RMB4,8004,900/kg (USD735750/kg) by cash payment, almost the same with thoseof one week ago. While some small plants lowered their offers to RMB4,3004,500/kg (USD658689/kg) by cash payment. Consumers are still inactive to make purchases, and insiders predicted that the price will declined a bit in the coming week. A producer in South China claimed that current lutetium oxide 99.99%min market saw few deals and he has not received any inquiries since the Spring Festival. He quotes RMB4,800/kg (USD735/kg) by cash payment for the material, without much change compared with that of one week ago. He noted that he sold around 100kg of the material at RMB4,800/kg (USD735/kg) by cash payment in early January, and he has not concluded any deals since then. He disclosed that he still has around 3 tons of stocks now. The producer, whose annual production capacity of lutetium oxide 99.99%min is around 5 tons, usually produces around 300kg of the material per month through separation yttrium concentrate. He disclosed that lutetium oxide 99.99%min market shows no signs of reviving now, and most suppliers still has large volumes of stocks now. Another producer disclosed that he hasn’t sold lutetium oxide 99.99%min since the New Year, and he still holds around 2 tons of stocks now. The producer sold around 200kg of the material at RMB4,900/kg (USD750/kg) in late December of 2015, and he said the market price keep stable now. He disclosed that some small plant sold some lower quality lutetium oxide 99.99%min at around RMB4,500/kg (USD689/kg) by cash payment. He is also pessimistic about the market. The producer, who usually produces around 200kg of the material per month, has an annual production capacity of 4 tons. He said that market is still oversupplied, and the market price will slide a bit in the coming week."
Producers are sitting on tonnes of the stuff and dropping prices even further to try and shift it, perfect example of what a crock of BS the HRE mantra always was.
NTU Price at posting:
6.5¢ Sentiment: Sell Disclosure: Not Held
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