No rally in sight for Pr-Nd prices in the short term

Pr-Nd oxide prices drop somewhat last week. During last week, mainstream price of Pr-Nd oxide dipped from 362,000-364,000 yuan/mt on February 29 to 353,000-357,000 yuan/mt on March 7, down 2.2% WoW. Pr-Nd alloy price declined from 453,000-457,000 yuan/mt on February 29 to 430,000-435,000 yuan/mt on March 7, down 4.9% WoW.

Magnetic materials companies received few orders. Bitter rivalry among the companies reduced their profits. In order to reduce costs, downstream companies had low acceptance of high-priced raw materials. Short-term Pr-Nd product prices will unlikely to move up.