SHANGHAI, Sep 29 (SMM) – Spot prices of rare-earth oxides in China extended their declines by over 1% in the week of September 27, as downstream magnetic material producers withheld from buying with a wait-and-watch attitude and other consumers restocked cautiously before the National Day holiday.
The week-long customs clearance in Myanmar grew concerns about higher feedstock supply, which also dented the confidence in prices. But the overall decline in rare-earth oxides was limited as mixed rare earth carbonate originated from Myanmar usually hold stable at lows alongside offers by major producers.
SMM assessments showed that prices of praseodymium-neodymium oxide dipped from an average 322,500 yuan/mt at the start of last week to 317,500 yuan/mt as of Friday September 27. Average price of neodymium oxide, meanwhile, slipped to 319,500 yuan/mt, from 324,500 yuan/mt on Monday September 23.
For medium-to-heavy materials, prices of dysprosium oxide fell from 1.88-1.9 million mt to 1.85-1.88 million yuan/mt, with those of terbium oxide down from 3.89-3.91 million yuan/mt to 3.95-3.98 million yuan/mt.
Prices of gadolinium oxide declined to 173,000-180,000 yuan/mt as of September 27, from 180,000-183,000 yuan/mt on September 23.
SMM expects recovering demand from the magnetic material sector to trigger a rally in prices of rare-earth oxides in the fourth quarter after the holiday.
