SHANGHAI, May 19 (SMM) – Rare earth prices in China will head for further rise in the short term, China Securities Net predicts.
For now, China’s six large rare earth groups have taken up 66 out of 67 rare earth mining rights nationwide and consolidated 77 out of 99 rare earth smelting & separation companies. This has greatly improved industry concentration.
Ongoing commercial stockpiles and crackdowns on illegal rare earth mining, as well as possible buying by the State Reserve Bureau, will further improve supply & demand picture.
Ion-type rare earth ore prices were raised by 10,000 yuan per tonne in late May from mid-May, according to the Ganzhou Rare Earth Association.
Prices for medium-yttrium and rich-europium ore were hiked to 190,000 yuan per tonne, those for Longnan high-yttrium ore were raised to 200,000 yuan per tonne, and those for Anyuan high-yttrium ore were raised to 190,000 yuan per tonne.
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