Rare earth prices fell on poor demand

SHANGHAI, Oct 24 (SMM) – Prices of rare earths slipped on Wednesday, as persisting weakness in demand forced small producers and traders to lower their offers to discharge cargoes.

SMM assessed the price of neodymium oxide at 304,500 yuan/mt as of October 23, down 3,000 yuan/mt from a day earlier. Prices of praseodymium oxide were at 355,000 yuan/mt after two consecutive days of declines.

Prices of praseodymium-neodymium oxide declined 4,000 yuan/mt to 302,500 yuan/mt.

For medium-to-heavy rare earths, prices of dysprosium, terbium and gadolinium oxides fell for a second straight day to 1.645 million yuan/mt, 3.645 million yuan/mt and 162,500 yuan/mt, respectively.