SHANGHAI, Dec. 5 (SMM) – Prices for rare earths, particularly dysprosium products, have been rising since late October, and are likely to present more gains, DZH News reported.
Dysprosium oxide prices posted an 8% increase between October 23 and December 2, while dysprosium metal prices climbed 23.5%, up from 1,700,000 yuan per tonne to 2,100,000 yuan, data from Shanghai DZH indicate.
An analyst said the sharp rise was mainly powered by China’s rare earth stockpiling and closures of Chinese plants engaging in rare earth separation, according to the report.
Furthermore, several suppliers said their goods have been sold out, and some traders were also running out of stocks. However, downstream buyers were purchasing calmly.
Market players expect rare earth prices to extend gains in the short term, but the increase may slow dragged by tepid demand.
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