SMM, 25 Oct:

This week, the prices of most rare earth products showed a more obvious downward trend, praseodymium and neodymium oxide fell to 29.2-297000 yuan / ton, neodymium oxide was adjusted to 29.4-299000 yuan / ton, and praseodymium oxide price dropped to 35-360000 yuan / ton. In terms of medium and heavy rare earths, the prices of dysprosium oxide, terbium oxide, gadolinium oxide and erbium oxide decreased to 160-1.63 million yuan / ton, 360-3.63 million yuan / ton, 16-165000 yuan / ton and 16-165000 yuan / ton, respectively.

The decline in rare earth prices during the week is mainly due to weak demand and wavering market confidence. Although the quotation of large factories in the upper reaches is relatively strong, some small factories and traders have obvious willingness to sell at low prices. Downstream enterprises are increasingly affected by falling prices. Most downstream businesses maintain a state of on-demand procurement, and procurement is relatively cautious. The market turned to be good for buying homes, and rare earth prices continued to fall during the week. In the aspect of light rare earths, the over-production events in the early smelting and separation plants were gradually digested by the market, and the market demand was weak in supporting the price of light rare earths, and the price fell significantly within the week. In the aspect of medium and heavy rare earths, affected by Myanmar's customs clearance and unstable market confidence, coupled with the downward adjustment of most rare earth products in the listed prices of rare earths in the south at the beginning of the week, the market confidence was shaken, the downstream buying was weak, the actual inquiry was relatively light, and the medium and heavy rare earths fell sharply during the week, and dysprosium oxide decreased by about 5.28% within the week.

SMM expects prices of light, medium and heavy rare earths to fall further due to weak downstream demand and market confidence.