China Southern Rare Earth holds prices of rare earth oxides mostly stable

SHANGHAI, Jul 10 (SMM) – China Southern Rare Earth Group, one of the six, state-owned rare earth mining groups in China, held the listed prices for most medium and heavy rare earth oxides unchanged from the previous quots a week ago, according to a notice on the company's website on Tuesday July 9.

The quote for medium and heavy rare earth oxides, except for gadolinium oxide, all stood flat on the week as the price for dysprosium oxide stood at 2 million yuan/mt, and that for terbium oxide at 4.1 million yuan/mt. 

Listed price for gadolinium oxide lost 10,000 yuan/mt from the previous week and came in at 175,000 yuan/mt.

SMM assessment showed that spot prices of several rare earth oxides slipped last week, as the market awaited the release of Baotou Steel’s listed prices and the meeting in Ganzhou.

However, most market participants remained optimistic about prices of medium and heavy rare earth oxides, and this kept producers from offloading cargoes. Producers of light rare earth oxides lowered offers but failed to boost downstream purchases.