SHANGHAI, Jan 11 (SMM) – Prices of rare earth products mostly remained flat this week. Prices of praseodymium-neodymium products dipped, pressured by lower listed prices for January released by China Northern Rare Earth (Group) on Wednesday January 9.
Cash flow issues drove some producers to lower offers in order to boost sales, which also accounted for lower prices of praseodymium-neodymium products.
Some downstream buyers restocked this week for CNY but this failed to significantly improve overall trades. SMM expects higher pre-holiday demand to support prices of rare earth products next week.
As of Friday January 11, SMM assessed that prices of praseodymium-neodymium metal stood at 403,000-408,000 yuan/mt, down 2,500 yuan/mt from a week ago, prices of praseodymium-neodymium oxide also dipped 1,500 yuan/mt week on week to 314,000-317,000 yuan/mt.
China Northern Rare Earth (Group) lowered January’s listed prices of praseodymium-neodymium oxide by 2.4% from December to 325,000 yuan/mt, and lowered listed prices of praseodymium-neodymium metal also by 2.4% to 415,000 yuan/mt.