SRB Completes Latest Round of Rare Earth Purchases

SHANGHAI, Jun. 5 (SMM) – The State Reserve Bureau (SRB), China’s state stockpiling agency, finished its latest round of rare earth purchases on May 27.

Purchasing volumes totaled over 3,000 tonnes, and bidders include China Minmetals, Baosteel, Chalco, Xiamen Tungsten, etc.

Bid prices were about 285,000 yuan/tonne for neodymium oxide, with purchasing volume at 250 tonnes; about 570,000 yuan/tonne for europium oxide, with purchasing volume at 200 tonnes; about 1.24 million yuan/tonne for dysprosium oxide, with purchasing volume at 520 tonnes; about 5.21 million yuan/tonne for lutetium oxide, with purchasing volume at about 35 tonnes; about 26,000 yuan/tonne for yttrium oxide, with purchasing volume at about 330 tonnes; about 190,000 yuan/tonne for erbium oxide, with purchasing volume at about 300 tonnes.        

Bid prices were about 291,000 yuan/tonne for praseodymium-neodymium oxide and about 3.42 million yuan for terbium oxide, but no deals were struck.  

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