SHANGHAI, Aug 19 (SMM) – Prices of several rare earth products regained losses from previous sessions in the second half of last week as China vowed to take necessary countermeasures against US tariffs in a rapid escalation of the US-China trade war.
Last week, lower-than-expected shipment of praseodymium-neodymium oxide fueled bullish sentiment about prices. Closed import window for raw materials of dysprosium oxide and terbium oxide is also expected to support prices in the near term.
SMM assessment showed that prices of praseodymium-neodymium oxide climbed some 5,000 yuan/mt to stand at 300,000-305,000 yuan/mt on Friday August 16, after they fell to a low of 297,500 yuan/mt on Thursday August 15.
As of Friday August 16, prices of neodymium oxide rebounded to 302,000-307,000 yuan/mt, with prices of gadolinium oxide rallying to 174,000-176,000 yuan/mt. Prices of dysprosium oxide held steady at 1.93-1.95 million yuan/mt, and prices of terbium oxide stabilised at 3.94-3.98 million yuan/mt.