Rare earth prices rally as US-China trade tension re-escalates

Published: Aug 19, 2019 14:42 (GMT+8)

Save

Lower-than-expected shipment of praseodymium-neodymium oxide also fueled bullish sentiment about prices

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.

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 for 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

3 hours ago

SMM Rare Earth Afternoon Trading Comment on September 22

3 hours ago

7 hours ago

Rare earth prices diverge, Pr-Nd continues to rise while medium-heavy rare earth remains in the doldrums [SMM Rare Earth Daily Review]

[SMM Rare Earth Daily Review: Rare earth prices diverge, with Pr-Nd rising continuously while medium-heavy rare earth remains in the doldrums] Overall, today's rare earth market showed a divergent pattern of "Pr-Nd prices raised while medium-heavy rare earth prices remained in the doldrums." In terms of transactions, the higher quotes did not simultaneously ignite buying interest. Downstream magnetic material enterprises remained largely in a wait-and-see mood, mainly purchasing on a rigid demand basis, and the actual negotiation center between buyers and sellers still had a gap. In the short term, although downstream magnetic material enterprises' rigid stocking demand emerged as the holiday approaches, their capacity to accept high-priced metals is limited, and Pr-Nd product prices may move sideways in a narrow range.

7 hours ago

9 hours ago

Dominican Republic Advances Rare Earth Project, Aims to Announce Reserves by 2027

The Dominican Republic's Ministry of Energy and Mines reported that the country has compiled more than 5,000 sample analysis results from the rare earth project, making it possible to determine the project's resource estimate in November this year. The ministry plans to announce the project's first reserves in H1 2027 once the required technical and economic feasibility studies, including metallurgical, economic, environmental, and logistics studies, are completed. Dominican Minister of Energy and Mines Joel Santos announced the results and also commended the Cooperation Framework signed between the Dominican Republic and the US. The framework aims to secure the supply of critical minerals such as rare earths, a strategic step to consolidate bilateral relations and attract investment.

9 hours ago