SHANGHAI, Aug. 17 (SMM) – Some categories prices of rare earth edged down on Thursday. According to SMM price, gadolinium oxide price was lowered by 5,000 yuan per tonne to 180,000-190,000 yuan per tonne, terbium oxide price fell 150 yuan per kilogram to 3,950-4,100 yuan per kilogram, and dysprosium oxide price dropped by 40 yuan per kilogram to 1,450-1,500 yuan per kilogram.
Some small traders lowered offers slightly for profits taking after rare earth prices surged, while separating plants made stable offers. Price of praseodymium-neodymium oxide was stably with offers mainly at 500,000-510,000 yuan per tonne. Some traders started selling goods in recent days.
SMM regarded the price decline as normal which rose rapidly by market speculations.
China announced to stabilize rare earth price, and some market participants in face of high prices took wait-and-see stance. Rare earth prices thus stabilized, or even edged down. However, fundamentals see no significant changes. Government will keep cracking down illegal rare earth mining, tightening rare earth supply. This, combined with anticipation of brisk demand from new energy vehicles, will restrict price decline of rare earth.
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