Metals News
SMM: Rare Earth Price Stabilizes with Retracement, Market Waiting Good News of Stockpiles Purchase
price review forecast

SHANGHAI, Nov.15 (SMM)-During recent two days, the Southern Rare Earth Group and Northern Rare Earth Group has released listed price. Commodities of Pr-Nd are lowered in price with over 10% drop compared with October. Thereinto neodymia offers at 370,000 yuan per tonne, dropping 11% on monthly basis. Pr Nd Oxide offers at 388,000 yuan per tonne, dropping 13% on monthly basis. Metal neodymium offers at 478,000 yuan per tonne, dropping 11% on monthly basis. Metal neodymium-praseodymium offers at 500,000 yuan per tonne, dropping 12% on monthly basis. Only lanthana and ceria maintain the price as last month.

After price drop for most varieties of heavy rare earth oxide in Southern Rare Earth Group last week, except for terbia offers 150,000 yuan lower than last week, other varieties keep same price as last week.

On one hand, the southern and northern rare earth group lower their official price successively. On the the hand, Pr Nd Oxide is mostly secondary committees recently, with quality of various levels. With the year-end coming, small stock holders tend to sell out with pressure of return of money, which may bring downward influence to the market. On Nov,14th, SMM Pr Nd Oxide offers at 365,000-380,000 yuan per tonne, dropping 2,500 yuan compared with yesterday, 7.02% on monthly basis.

However, since for the news level six major rare earth groups are said to have a meeting with State Reserve Bureau on the stockpiles purchase issues, downstream enterprises are getting waiting and seeing with less purchase willingness. Wu Xiaofeng, SMM rare earth analyst says, currently with light transaction in the market and no stockpiles purchase till now. Even if the purchase is confirmed, the future tendency of rare earth price is not certain. The price of purchase and quantity will affect the price tendency in multi-direction. The universal drop of rare earth price is a periodical retracement after previous surge. Currently, details of relevant meeting have not been disclosed yet.

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