SHANGHAI, Apr 13 (SMM) – The stable listing prices of China Northern Rare Earth will boost market confidence to a certain extent amid a weak rare earth market.
This, together with the impact of production reduction and shutdown of separation plants in Jiangxi, is expected to keep the prices of praseodymium-neodymium oxide at a high level of 570,000-575,000 yuan/mt this week.
Prices of neodymium oxide may fall further to 560,000-570,000 yuan/mt, while those of praseodymium oxide are likely to climb further to 530,000 yuan/mt.
Praseodymium-neodymium metal plants in Baotou, Inner Mongolia showed little interest in buying praseodymium-neodymium oxide as downstream producers did not accept current prices of praseodymium-neodymium metal.
In terms of light rare earth, praseodymium-neodymium oxide was quoted between 572,000-577,000 yuan/mt as of April 9, with a few deals heard at 570,000 yuan/mt; praseodymium-neodymium metal was offered between 715,000-718,000 yuan/mt by acceptance, with few traders; praseodymium oxide was offered between 515,000-520,000 yuan/mt, with relatively active inquiries; neodymium oxide was offered between 590,000-600,000 yuan/mt.
In terms of medium and heavy rare earth, terbium oxide suppliers that suffered from tight cash flows sold at 9,000 yuan/kg, while the mainstream quotations were 940-950 yuan/kg, with few transactions.
The downstream market of rare earth permanent magnet remained strong in March. According to the China Association of Automobile Manufacturers (CAAM), China's new energy vehicle production and sales were 216,000 units and 226,000 units in March, up 74.9% and 106% month on month, and also up 247.4% and 238.9% year-on-year.
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