SHANGHAI, Dec 30 (SMM) – Prices of rare-earth oxides in China mostly stabilised in the week ended December 27 with the increases in medium-to-heavy rare earth at a slower pace on the back of subdued demand at year-end.
While producers firmed up offers in anticipations of tight supplies on Myanmar’s rare earth ore export suspension, downstream metal and magnetic material producers were on the sidelines, resulting in lower traded prices than quotes by major producers.
SMM assessed prices of dysprosium oxide and terbium oxide, both medium-to-heavy rare earth, at 1,740-1,760 yuan/kg and 3,510-3,550 yuan/kg, respectively as of December 27, flat and up 20 yuan/kg from a week ago.
Prices of light rare earth, meanwhile, held steady after declined at the start of last week, weighed by cash-in demand of producers.
As of December 27, prices of praseodymium-neodymium oxide stood at 282,000-286,000 yuan/mt and prices of neodymium oxide at 284,000-288,000 yuan/mt, unchanged for most of the week after prices shed 1,500 yuan/mt on Monday December 23, according to SMM assessments.
SMM expects prices of medium-to-heavy rare earth to stay buoyant in the short term as producers will not let go cargoes at lower prices despite current thin trades. Prices of light rare earth will likely consolidate at low levels this week.
Downstream producers will restock before the Chinese New Year holiday in January, but this may only limitedly improve overall consumption.
