SHANGHAI, Oct 21 (SMM) – Spot prices of several rare-earth oxides in China fell significantly in the week ended October 18, extending declines from the previous week as a falling market and cheap cargoes available kept downstream producers on the sidelines.
SMM assessments showed that prices of praseodymium-neodymium oxide dipped from 312,000-317,000 yuan/mt at the start of the week to 304,000-309,000 yuan/mt as of Friday October 18; prices of dysprosium oxide fell from 1.75-1.78 million yuan/mt to 1.69-1.72 million yuan/mt and prices of terbium oxide slipped from 3.77-3.8 million yuan/mt to 3.7-3.73 million yuan/mt during the same period.
Prices of medium- to heavy- rare earth products, such as dysprosium oxide and terbium oxide are expected to stabilise in the short term, supported by potential procurement by major downstream producers and limited supply in the market.
The pace of recovery for downstream demand will determine near-term prices of light rare earth products, including praseodymium-neodymium oxide.
