SMM7 News of the 5th of June:
This week, the rare earth market is mainly weak and stable, and the prices of praseodymium and neodymium oxide, gadolinium oxide and terbium oxide have all fallen to varying degrees. This week, in addition to some traders and small factories shipping at low prices, the quotations of large factories generally remain weak and stable, and most people in the market are still optimistic about the future market. At present, upstream and downstream enterprises are generally waiting for the listing prices of Baotou Steel this month and the guidance of Ganzhou rare Earth Congress. The actual demand of downstream enterprises has weakened, and the actual trading atmosphere in the spot market within the week is weak.
In the short term, the future mainly awaits the guidance of Ganzhou rare earth conference and the listing price of Baotou Steel. At present, due to the further tightening of mine end supply of medium and heavy rare earths, the price of medium and heavy rare earths is expected to decline with limited room for decline, and will continue to rise in the future. Praseodymium neodymium oxide and other light rare earth products prices although the market is still optimistic in the future, but the domestic supply is abundant, coupled with the current downstream demand into the off-season, the fundamentals of praseodymium oxide and other light rare earth oxides price support is weak. Waiting for Ganzhou rare earth conference and Baotou steel listing price guidance in the near future, if there is no relevant news stimulation, it is expected that the price of light rare earth products such as praseodymium and neodymium oxide will fall slightly in the future.