Multi-product prices of rare earth fluctuated downward

SHANGHAI, Apr 7 (SMM) — Rare earth market fluctuated last week, and prices of many performers fell, especially neodymium oxide. The neodymium praseodymium oxide market fluctuated significantly, then stabilised after rising slightly. Some metal factories restocked on dips; the neodymium praseodymium metal market was slightly less than that of the neodymium praseodymium oxide. It reflected the low acceptance of current metal prices by magnetic companies, fierce upstream and downstream market deadlock; dysprosium oxide is relatively firm, and the weekly average price slightly increased.

On inventory, most metal factories were not inclined to restock amid sufficient stocks; some metal factories in Sichuan said that there was a shortage of oxide stocks, and they have stockpiled several batches of oxides in two weeks; magnetic companies believed that inventories of rare earth raw materials were not abundant, but their orders were bullish. However, in view of the relatively high level of Pr and Nd metal, magnetic materials companies were very cautious in restocking. More companies predicted that magnetic materials companies are likely to increase restocking in mid-to-late April. At that time, rare earth materials related to magnetic materials may start upward trend.

On light rare earth, the trend of lanthanum and cerium was stable. As of April 2, low-purity lanthanum oxide stood at 8,500-9,000 yuan/mt, with weekly average price flat from the previous week.

According to SMM survey, holders held prices firm and traders restocked as required on dips. Most of them believed that the current rare earth market was corrected, and held a positive outlook. The praseodymium and neodymium products are likely to fluctuate at high levels while terbium, dysprosium, holmium, and yttrium products to weaken.

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