Praseodymium-neodymium prices inched up on mild demand recovery

SHANGHAI, Apr 26 (SMM) – Prices of rare earths in China saw some stabilisation last week, with those of praseodymium-neodymium inching up on mild demand recovery.

SMM assessed prices of praseodymium-neodymium oxide at 260,000-263,000 yuan/mt as of Friday April 26, up 1,500 yuan/mt from a week earlier, as quotes climbed to 265,000 yuan/mt with few cheap resources available on the market.

Following gains in oxide, prices of praseodymium-neodymium metal rose 1,000 yuan/mt last week to 328,000-333,000 yuan/mt.

Demand recovery encouraged praseodymium-neodymium producers to raise their quotes, but the improvement was too moderate to trigger a substantial increase in prices.

For medium-to-heavy rare earths, prices of dysprosium and terbium oxide were barely changed last week, underpinned by hopes for stockpiling by Beijing for reserves but pressured by continued weakness in demand.

SMM assessed prices of dysprosium oxide at 1.78-1.81 million yuan/mt as of Friday, unchanged from a week earlier, with most of transactions done around 1.78 million yuan/mt.

Prices of terbium oxide also held steady, hovering at 3.9-3.95 million yuan/mt last week, and most of transactions were done around 3.88 million yuan/mt.

Prices of rare earths in China appear to have stemmed their recent declines, but upside potential is limited by overall weakness in demand.

A substantial demand recovery, however, is still far away, as the global COVID-19 pandemic crisis saps demand in rare earth downstream and end-market sectors.