SMM6 News of the 28th of July:
Affected by G20 summit factors this week, market confidence is unstable, some cash-strapped traders and small factories shipped at low prices, light, medium and heavy rare earth prices have fallen. Praseodymium and neodymium oxide fell from 36.5-370000 yuan / ton on Monday to 34-350000 yuan / ton on Friday, and neodymium oxide fell from 36.7-372000 yuan / ton to 34.2-352000 yuan / ton. The prices of dysprosium oxide, terbium oxide and gadolinium oxide also fell. This week, the price of dysprosium oxide fell from 198-2.02 million yuan / ton to 193-1.96 million yuan / ton, and the price of terbium oxide fell from 415-4.2 million yuan / ton to 408-4.13 million yuan / ton. Gadolinium oxide fell to 19.5-200000 yuan / ton. Overall, this week the big factory mentality is more optimistic, shipments have shrunk. Some traders and small factories due to financial constraints although the price cut, but downstream enterprises waiting for the G20 summit results wait-and-see mood is strong, the overall market transaction is weak.
At the G20 summit in Japan on Friday and Saturday, market expectations are mixed, and if China and the United States return to the negotiating table, it is possible to shake market confidence again. Therefore, in the short term, the rare earth market affected by the macro news surface may remain stable and weak in the short term, but due to the shortage of medium and heavy rare earth mineral resources, the price of medium and heavy rare earth products still constitutes a certain degree of support. Today, Jiangxi Province indicated that it supports the Southern rare Earth Group to enhance its grip on ionic rare earth mineral resources, and according to market figures, it is expected that it may play a further role in managing and standardizing the mining of ionic rare earth mines. There is the possibility of restarting the mining of ionic rare earth mines in southern China in the future. In the long run, it may alleviate the shortage of domestic medium and heavy rare earth mineral resources, resulting in the trend of medium and heavy rare earth prices under pressure.