China Northern Rare Earth hikes Jun listed prices of light rare earth

Published: Jun 10, 2019 18:33

Save

There is further upside room in prices of light rare earth and medium, heavy rare earth products

SHANGHAI, Jun 10 (SMM) – State-owned mining company China Northern Rare Earth (Group) raised listed prices of light rare earth products for June, including praseodymium-neodymium oxide and praseodymium-neodymium metal, by over 28% from May, according to a notice on the company's website on Monday June 10.

This came after higher tariffs on US rare earth products took effect, which grew concerns about a lower supply of seaborne rare earth ores.

The adjustment buoyed the listed price of praseodymium-neodymium oxide to 360,000 yuan/mt, up 29.8% on the month, and that of praseodymium-neodymium metal to 450,000 yuan/mt, up 28.6% from May. Listed prices of neodymium oxide also jumped 29.6% to stand at 362,000 yuan/mt, and prices of neodymium metal rose 28.6%, and posted 450,000 yuan/mt.

A bullish market and producers holding back from offloading will extend upside room in prices of light rare earth products. For medium and heavy rare earth, a shortage of feedstock caused by an import ban from Myanmar is expected to extend the upside trend in prices.

China Southern Rare Earth Group announced on June 3 that its 56 mining subsidiaries of medium, heavy rare earth ore in Jiangxi and two miners of light rare earth ore remained suspended. This will also tighten supplies and bolster prices.

The Group has 60 mining subsidiaries for rare earth ore.

Market commentary Rare earth

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

Vietnam Announces New Rules banning the Export of Rare Earth Minerals that Do Not Meet Deep-processing Standards

The Ministry of Agriculture and Environment in Vietnam has issued Consolidated Document No. 21/VBHN-BNNMT, detailing a number of provisions, including regulations on the management of rare earth elements. Specifically, in addition to complying with regulations on strategic and important minerals, the surveying, exploration, exploitation, processing, and use of rare earths must follow the national rare earth usage strategy. Activities related must ensure the principles of resource protection, environmental protection, and sustainable development; link extraction and processing with deep processing to increase added value and ensure technological self-reliance; not export rare earth minerals that have not met the required deep-processing standards; and only export deeply processed products.

2 hours ago

3 hours ago

VHM Approves Full-Scale Development of Goschen Rare Earth Project in Victoria, Aiming for 5Mmt Annual Capacity

[SMM Rare Earth Flash] Australian exploration and development company VHM announced on March 23 that it had approved the transition of its Goschen rare earth and mineral sands project in Victoria to full-scale development, abandoning its previous phased advancement strategy and directly launching large-scale operations with annual processing capacity of 5 million mt. The project was granted major project status by the Australian federal government in 2021 and had completed pre-feasibility and definitive feasibility studies, with development conditions fully in place. This move will accelerate the release of the project's resource potential and support the development of Australia's rare earth supply chain.

3 hours ago

19 hours ago

South Korea to Exempt Tariffs on Overseas-Sourced Critical Minerals

On the 25th, it was confirmed that the South Korean government will exempt tariffs of 3–8% on critical minerals such as lithium, graphite, and rare earth elements when domestically owned companies directly produce and import them from overseas. The Ministry of Trade, Industry and Energy has pre-announced a new regulation outlining tariff exemptions for overseas resource development projects. Under the policy, a total of 14 critical minerals—including lithium, graphite, nickel, cobalt, manganese, copper, zinc, and rare earth elements such as lanthanum, cerium, neodymium, terbium, dysprosium, yttrium, and scandium—will be eligible for duty exemption when brought into the country. The regulation is set to take effect on April 3.

19 hours ago