SHANGHAI, Mar 16 (SMM) – Prices of light rare earth extended their weak trend while prices of medium-to-heavy rare earth products held firm last week. The upward momentum in medium-to-heavy rare earth, however, will likely reduce as bullish sentiment from supply concerns eases. 

SMM assessments showed that the average price of praseodymium-neodymium oxide slipped 2,000 yuan/mt week on week to 270,000 yuan/mt as of Friday March 13, before the price recovered 2,000 yuan/mt on Monday March 16.

Prices of neodymium oxide followed prices of praseodymium-neodymium oxide lower, to 292,000-295,000 yuan/mt as of March 16, down 2,000 yuan/mt from a week ago. Relatively tight supply of neodymium oxide kept its prices higher than that of praseodymium-neodymium oxide. 

Limited purchases by downstream magnetic materials plants weighed on prices of praseodymium-neodymium metal, which declined 5,000 yuan/mt on the week to 340,000-345,000 yuan/mt as of March 16.

In terms of medium-to-heavy rare earth, prices of dysprosium oxide extended increases, by 30,000 yuan/mt from a week ago to 1.87-1.9 million yuan/mt as of March 16, with some producers reporting brisk trades. 

Prices of dysprosium-ferrum alloy moved higher with prices of dysprosium oxide, to 1.84-1.86 million yuan/mt as of March 16, up 30,000 yuan/mt week on week. 

SMM assessed prices of terbium oxide stabilising at 4.25-4.3 million yuan/mt last week, down 50,000 yuan/mt on the week.