SHANGHAI, Jun 11 (SMM) – China Northern Rare Earth (Group) High-tech has sharply hiked its listed prices for praseodymium-neodymium products.
According to a notice on the company's website released on Thursday June 11, the Baotou-based rare earths supplier will sell praseodymium-neodymium oxide at 310,000 yuan/mt, tax-included and ex-factory, for the month of June, up about 8% from the previous month.
This month’s substantial increase followed a 0.7% rise in May. The rare earth producer slashed its listed price for praseodymium-neodymium oxide in March and April, by 6.3% and 5%, respectively, to 285,000 yuan/mt.
Listed price for neodymium oxide rose 4.3% from May to 318,000 yuan/mt, and the prices for praseodymium-neodymium and neodymium metal climbed 7.5% and 3.9% to 389,000 yuan/mt and 400,000 yuan/mt, respectively.
The company held its listed prices for lanthanum and cerium oxides both unchanged at 12,200 yuan/mt, after a cut of 3.2% in May.
SMM assessed prices of praseodymium-neodymium oxide at 290,500 yuan/mt as of June 11, the highest in six months. That marked an increase of nearly 12% from a multi-year low of 259,500 yuan/mt plumbed on April 10, as demand is recovering from the Covid-19 pandemic and due to hopes of state stockpiling for reserve and concerns over raw materials supply amid rising tensions between the US and China.