SHANGHAI, Dec. 10 (SMM) – Rare earth market remained weak last week, with trading still thin on weak demand. As downstream markets, such as NdFeB and permanent magnet material, were in sluggishness, many consumers only purchased as needed.
SMM sources reported that traded prices fell to RMB 23,000-24,000/mt for lanthanum oxide last week, and prices for cerium oxide were mainly at RMB 24,000/mt, with a few goods sold at RMB 23,000/mt. Neodymium oxide prices dropped to RMB 320,000/mt. Didymium oxide were mainly sold at RMB 320,000/mt, but several transactions were concluded at RMB 315,000/mt. Traded prices for dysprosium oxide fell further to RMB 1.80 million/mt, with some goods sold at RMB 1.75 million/mt. Average terbium oxide price declined to RMB 3,550/kg, and erbium oxide prices were around RMB 350,000/mt, with a few trades made at RMB 340,000/mt.
Mainstream traded prices for rare earth metals were little changed last week. Although some enterprises held quotations up considering the stockpiling of the State Reserve Bureau, most producers reported that prices lacked impetus to rise given the depressed demand. Cerium metal prices kept falling, with several transactions made at RMB 60,000/mt. Prices for praseodymium-neodymium alloy also dropped to an average of RMB 415,000/mt, with a few deals done at RMB 410,000/mt.
SMM anticipated that rare earth market would remain gloomy given the unimproved demand downstream, and most rare earth producers might not adjust price offers, to retain the existing clientele.