China Southern Rare Earth cuts prices of medium, heavy rare earth oxides

SHANGHAI, Dec 31 (SMM) – China Southern Rare Earth Group, one of the six, state-owned rare earth mining groups in China, on Monday cut the weekly listed prices of holmic oxide, erbium oxide, and lutetium oxide, while kept prices of other medium and heavy rare earth oxides unchanged. 

The adjustment lowered quotes of holmic oxide to 306,000 yuan/mt, down 4,000 yuan/mt from a week earlier. Prices of erbium oxide and lutetium oxide were 5,000 yuan/mt and 50,000 yuan/mt lower, respectively, standing at 150,000 yuan/mt and 4.25 million yuan/mt. 

Listed prices for other medium and heavy rare earth oxides, such as terbium oxide and dysprosium oxide, which were priced at 3.9 million yuan/mt and 1.9 million yuan/mt respectively, were flat on the week.

SMM expects prices of most medium-to-heavy rare earth oxides to stay buoyant in the short term as producers will not let go cargoes at significantly lower prices despite current thin trades.