SHANGHAI, Jun. 3 (SMM) – According to the latest SMM survey, prices of rare earth products continued to fall during the past week with market demand depressed.
Prices were RMB 29,500/mt for lanthanum oxide, RMB 28,000/mt for cerium oxide, RMB 355,000/mt for praseodymium oxide, RMB 255,000/mt for neodymium oxide, RMB 260,000/mt for didymium oxide, RMB 3,500/kg for europium oxide, RMB 1,100/kg for dysprosium oxide, RMB 120,500/mt for gadolinium oxide, RMB 52,500/mt for cerium misch metal, RMB 345,000/mt for praseodymium-neodymium alloy and RMB 1,200,000/mt for dysprosium-iron alloy.
Rare earth market remained weak last week with prices falling further. Most sellers reported difficulty selling goods and were bearish to market outlook. Trading was still light.
SMM believes demand in rare earth market will unlikely show noticeable improvement in the short term, and supply will remain in excess. SMM expects rare earth prices to keep slipping this week.