SHANGHAI, Dec 2 (SMM) – Prices of rare-earth oxides in China, except for lanthanum oxide and cerium oxide, were in an upward trend last week, supported by improved trades in the spot market.
SMM assessments indicated that, as of December 2, dysprosium oxide prices climbed to 1.63-1.65 million yuan/mt, from 1.6-1.62 million yuan/mt last Monday; prices of terbium oxide held stable at 3.4-3.45 million yuan/mt last week and gained 10,000 yuan/mt on Monday December 2.
Prices of praseodymium-neodymium oxide, meanwhile, relinquished early gains last week and stood at 283,000-286,000 yuan/mt as of December 2, flat from a week ago.
SMM assessed prices of dysprosium-ferrum alloy at 1.62-1.64 million yuan/mt as of December 2, up from 1.59-1.61 million yuan/mt a week earlier.
Downstream metal and magnetic material producers will likely step up restocking ahead of the Chinese New Year, but growth in overseas consumption before the upcoming Christmas holiday could be limited.
There is potential upside room in prices of light rare earth, such as praseodymium-neodymium oxide and neodymium oxide, on the back of rising demand even as supply will expand on higher production quotas.
Near-term prices of medium to heavy rare earth, including dysprosium oxide and terbium oxide, may also extend increase as major producers firm up offers amid the prospect of demand recovery.