Prices of praseodymium-neodymium oxide and terbium oxide extended gains, downstream users restocked on demand

Prices of rare earth products maintained upward trend last week. Producers of praseodymium- neodymium oxide raised prices as supply of spot cargoes tightened in markets and downstream users inquired prices actively. Producers of praseodymium-neodymium alloy also held prices firm, and downstream users mostly purchased as required. Prices of praseodymium-neodymium oxide stood between 332,000-335,000 yuan/mt as of August 14, up 15,000 yuan/mt on the week, while prices of praseodymium-neodymium alloy came in at 414,000-42,000 yuan/mt, up 18,500 yuan/mt from a week ago.

Prices of heavy rare earth remained firm, and spot trades were muted as producers were reluctant to sell. Terbium oxide prices performed well, with downstream users inquiring actively while producers holding prices firm amid low inventories and output. As of August 14, terbium oxide prices stood at 4,770-4,820 yuan/kg, up 90 yuan/mt week on week, dysprosium oxide prices little changed on week at 1,850-1,880 yuan/mt and gadolinium oxide prices stood at 185,000-190,000 yuan/mt, up 4,000 yuan/mt from a week earlier.

SMM expects prices of praseodymium-neodymium oxide and terbium oxide to continue to strengthen in the short term.