China Northern Rare Earth kept rare earth products prices in April flat from the previous month. The quotations of PrNd oxide and neodymium oxide are 365,700 yuan/ton and 374,000 yuan/ton respectively; the quotations of PrNd alloy and metal neodymium are 455,000 yuan/ton and 465,000 yuan/ton respectively.
This was in line with the expectations of many industry players. From January to February, rare earth metal ores from the United States shrank by 41% year-on-year. At the same time, the price of ion ores also stopped falling and stabilized. Sellers held back cargoes, tightening the supply of rare earth products. The recent price trend of praseodymium and neodymium spot markets strengthened.
At present, the raw material inventory of magnetic material companies is still low. With the price of praseodymium and neodymium already at a low level, there is not much room for further downside. Some purchasers are more willing to replenish their inventory.
SMM predicts that in the short term, the prices of praseodymium and neodymium products will remain strong.
