Metals News
SMM Rare Earth Weekly Survey: Rare Earth Market Remains Weak (Nov. 25-29, 2013)
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09:06AM
Dec 3,2013
Source:SMM

SHANGHAI, Dec. 2 (SMM) – China’s rare earth market remained weak last week, with prices for several products falling for a lack of favorable reports. Enterprises still produced to order and refrained from building stocks. Downstream buyers also only purchased as needed, leaving market gloomy. SMM learned that traded prices were RMB 24,000-25,000/mt for lanthanum oxide last week, and prices for cerium oxide dropped to RMB 24,000/mt, with a few goods sold at RMB 23,000/mt. Neodymium oxide prices fell to RMB 320,000/mt. Transactions for didymium oxide were mainly done at RMB 320,000/mt, but several deals were concluded at RMB 315,000/mt. Traded prices for dysprosium oxide also retreated to RMB 1.85 million/mt, with some goods sold at RMB 1.8 million/mt. Terbium oxide’s average price dropped to RMB 3,650/kg, and samarium oxide prices were RMB 19,000-19,500/mt. 

Some rare earth metals producers cut production due to sluggishness, but trading remained anemic. As downstream demand remained unimproved, some suppliers refused to make quotations and only stayed outside the market. Neodymium metal prices fell to RMB 420,000/mt, while cerium metal prices fell to RMB 61,500/mt. Prices for dysprosium metal also declined to RMB 2,900/kg. 
 
SMM believes rare earth market will remain depressed given the absence of good news. 
 
 
 
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