Rare earth prices rise on higher costs

SHANGHAI, Mar 5 (SMM) – China’s rare earth market saw more trading activity during the week ended Friday March 2 as participants returned from the Chinese New Year holiday and sellers raised offers.

Transaction prices of praseodymium, neodymium, dysprosium, terbium and gadolinium oxide all went up following higher offers, SMM learned.

While sellers were unwilling to let go cargoes at a lower price due to higher ore cost pressure, they also tested the market with higher offers as participants were waiting for stronger cues, sources said.  

SMM believes higher ore costs would continue to drive rare earth prices higher in the short term even though downstream customers are not in a rush to procure.

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