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.
