SHANGHAI, Jun 30 (SMM) – China Southern Rare Earth Group, one of the six state-owned rare earth mining groups in China, raised the listed prices for several medium-to-heavy rare earth oxide products, such as terbium oxide and holmic oxide, for this week.
The adjustment brought quotes of terbium oxide to 4.7 million yuan/mt, up 150,000 yuan/mt from a week ago, marking the seventh consecutive week of increase. This followed a rise of 100,000 yuan/mt in the previous week.
The listed prices of holmic oxide were lifted by 5,000 yuan/mt on the week to 415,000 mt for this week with prices of gadolinium oxide 3,000 yuan/mt higher at 178,000 yuan/mt.
Listed prices for other medium and heavy rare earth oxides were left unchanged. Prices of dysprosium oxide, for example, held steady at 1.95 million yuan/mt, with prices of europium oxide at 210,000 yuan/mt and samarium oxide at 12,000 yuan/mt, both flat on the week.
SMM assessments showed that spot prices of terbium oxide have climbed to the highest level in nearly eight years, as tight supplies prompted sellers to hike prices. As of June 30, spot prices of terbium oxide are assessed at 4.64-4.7 million yuan/mt, up 135,000 yuan/mt from last Monday. Prices started to climb from 3.875 million yuan/mt on May 14.
Spot prices of holmic oxide also strengthened in the recent weeks, rising from an average 405,000 yuan/mt on June 18 to 425,000 yuan/mt as of June 30, the strongest level in more than two years. Downstream consumers purchased as required while producers tended to hold cargoes back from the market amid a board rally in rare earth oxide prices.
In the light rare earth market, spot prices of praseodymium-neodymium oxide also edged higher even as downstream metal plants remained cautious about restocking. SMM assessed prices of praseodymium-neodymium oxide at 290,000-294,000 yuan/mt as of June 30, up 9,000 yuan/mt from June 18 when prices started to recover.