SHANGHAI, May 27 (SMM) – SMM survey reveals that prices for some rare earth products slipped during the past week with demand still weak.
Prices were RMB 30,000/mt for lanthanum oxide, RMB 29,000/mt for cerium oxide, RMB 367,500/mt for praseodymium oxide, RMB 275,000/mt for neodymium oxide, RMB 262,500/mt for didymium oxide, RMB 4,150/kg for europium oxide, RMB 1,475/kg for dysprosium oxide, RMB 125,500/mt for gadolinium oxide, RMB 65,500/mt for cerium misch metal, RMB 352,500/mt for praseodymium-neodymium alloy and RMB 1,525,000/mt for dysprosium-iron alloy.
Trading for rare earth products remained quiet last week, and most cargo holders reflected poor orders given depressed demand. Thus, prices for rare earth products fell, and downstream buyers were still unwilling to purchase despite lower prices.
SMM expect rare earth market unlikely to improve in the short term with supply remaining in excess, and prices may continue to trend downward this week.