China’s exports of rare earth shrink 3.5% YoY in Jan

Rare earth prices were generally lower last week, with prices of many products including praseodymium-neodymium, terbium, dysprosium, and holmium down from a week ago, and transaction atmosphere cooled down significantly. Prices of praseodymium-neodymium oxide showed signs of stabilising, while prices of praseodymium-neodymium metal remained weak amid muted trades. Prices of terbium and dysprosium found no support and market participants generally hoped that large enterprises would stockpile. Prices of gadolinium and holmium diverged. Gadolinium received brisk inquiries, while holmium saw quiet trades. Prices of praseodymium were largely stable , while prices of neodymium continued to decline amid sluggish transactions.

Neodymium praseodymium prices rose slightly amid the news of environmental inspections in Ganzhou over the previous week.

Nonferrous metals on the SHFE were mostly higher on Thursday morning, and their counterparts on the LME rose across the board after stocks on Wall Street sailed to record highs as US President Joe Biden was sworn into office.

Nonferrous metals on the SHFE were mostly lower on Wednesday morning, while their counterparts on the LME set for a mixed start.

Nonferrous metals on the SHFE and LME both fell broadly on Thursday morning, extending losses, as surging global COVID-19 cases triggered more restrictions and stoked concerns about economic recovery.

Shanghai base metals fell for the most part on Friday morning, while their counterparts on the LME set for a mixed start, as the US dollar rebounded and hopes for a US stimulus package before the Nov. election dimmed.

Prices of praseodymium-neodymium oxides, a type of light rare earth, increased for the fifth consecutive day as of May 14, lifted by stepped-up downstream stockpiling as demand resumes with the fading impact of the coronavirus pandemic. 

Southwest China's Yunnan province has unveiled detailed allocation of its first batch of rare earth and tungsten mining output quotas for this year. According to a circular issued by the province’s Department of Natural Resources on Wednesday, Yunnan issued 2,615 mt of mining quotas for tungsten concentrate and 12 mt for rare earth in the first batch for 2020.

Prices of light and medium-to-heavy rare earth products mostly declined last week as the widespread COVID-19 overseas weakened investors’ prospects for demand and kept domestic consumers from...

Demand for rare earth may continue to face potential impact from the coronavirus, but costs will lend some support to rare earth prices, SMM estimates. In the long run, bullish prospects for China’s infrastructure development and more stimulus measures for its new energy vehicle market are expected to lift consumption of rare earth and revive the market.