Supply woes buoy prices of medium to heavy rare earth oxides

Published: Dec 23, 2019 11:37

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But subdued demand weighed on prices of light rare earth oxides such as praseodymium-neodymium oxide

SHANGHAI, Dec 23 (SMM) – Prices of rare earth oxide products diverged last week as subdued demand weighed on prices of light rare earth oxides such as praseodymium-neodymium oxide and neodymium oxide, while the suspension of Myanmar’s rare earth ore export to China grew feedstock supply concerns and supported prices of medium- to heavy- rare earth oxides.

SMM assessed that prices of praseodymium-neodymium oxide slipped to 284,000-287,000 yuan/mt as of Friday December 20, down 4,000 yuan/mt from Monday December 16, before prices lost another 1,500 yuan/mt on Monday December 23, to 282,000-286,000 yuan/mt.

Prices of neodymium oxide fell to 284,000-288,000 yuan/mt as of December 23, 1,500 yuan/mt lower from last Friday and 5,500 yuan/mt lower from last Monday.

Prices of medium- to heavy- rare earth oxides, meanwhile, extended their price rally as gadolinium oxide prices advanced 2,000 yuan/mt on the week to 164,000-166,000 yuan/mt as of December 23, SMM assessments showed.

Prices of terbium oxide and dysprosium oxide increased 30 yuan/kg and 20 yuan/kg week on week, respectively, to 3,500-3,550 yuan/kg and 1,740-1,760 yuan/kg as of December 23.

SMM expects overall weakening demand will keep prices of praseodymium-neodymium oxide under pressure this week, but costs will cap any downside room. Supply woes will continue to hold up prices of terbium oxide and dysprosium oxide this week.

Market commentary Rare earth

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