China Northern Rare Earth lowered PrNd oxide prices in March

China Northern Rare Earth lowered prices for Pr-Nd oxide significantly in March from the previous month. The quotations of PrNd oxide and neodymium oxide are 365,700 yuan/ton and 374,000 yuan/ton respectively, down 9.7% and 9.5% respectively from February; the quotations of PrNd alloy and metal neodymium are 455,000 yuan/ton and 465,000 yuan/ton respectively, down 9.4% and 9.2% respectively from the previous month.

The spot market price has also continued to decline. On March 1, the actual transaction price trend in the spot market of praseodymium and neodymium products continued to be weak, with the price of PrNd oxide falling by 9.5% compared with before the Chinese New Year holiday.

After the Chinese New Year holiday, the downstream demand situation of rare earths and the overall price of rare earths continued to fall. Downstream metal plants have less raw material inventories, but their willingness to purchase has decreased. Inquiry activity for medium and heavy rare earth products increased last week under the influence of news factors, but the actual market trading volume was still lower than expected, and its prices were still mainly weak.