SHANGHAI, Jul 7 (SMM) — Inquiries in the rare earth market were active last week. Although transaction volume was small, it still gave the market a certain degree of confidence.
Quotations of Pr-Nd oxide were raised significantly last week, and ranged 483,000-488,000 yuan/mt as of last Friday. Inquiries of 490,000 yuan/mt were heard on Friday afternoon. Suppliers suspended quotations and held back cargoes. Quotations of Pr-Nd metal also increased. There were few quotations as of July 2. SMM quotations ranged 598,000-608,000 yuan/mt. Some producers offered to sell at 610,000 yuan/mt.
Quotations of terbium oxide rose rapidly last week, and stood between 6.4-6.5 million yuan/mt as of last Friday. Some producers made offers at 6.6 million yuan/mt, while traded price rose to 6.45 million yuan/mt. Terbium metal was offered between 8-8.1 million yuan/mt, but transaction volume was much smaller than that of Pr-Nd metal due to its high price and limited use.
The price of yttrium oxide remained stable, and was offered between 27,000-29,000 yuan/mt as of July 2.
Quotations and traded prices of dysprosium oxide and dysprosium iron gradually increased last week. As of last Friday, dysprosium oxide was offered at 2.35-2.4 million yuan/mt, and some producers said transaction price had reached 2.37 million yuan/mt. SMM dysprosium iron quotations were 2.3-2.4 million yuan/mt as of July 2, and transaction price was at 2.3 million yuan/mt.
Prices of lanthanum and cerium were relatively stable last week amid stable supply and demand. As of last Friday, lanthanum oxide was offered at 8,500-9,000 yuan/mt, and cerium oxide was offered at 9,200-9700 yuan/mt. Lanthanum metal was offered at 27,500-28,500 yuan/mt, and cerium metal was offered at 29,000-29,500 yuan/mt.
Prices of gadolinium rose significantly last week, while those of samarium were relatively stable. As of last Friday, gadolinium oxide was offered at 202,000-204,000 yuan/mt, and deals were done at 203,000 yuan/mt. Gadolinium iron was offered at 198,000-205,000 yuan/mt, and cargo holders were cautious in quoting as it became more difficult to purchase raw materials. Erbium oxide was offered at 180,000-183,000 yuan/mt, and inquiries from large downstream producers increased. Samarium oxide was offered at 13,000-14,000 yuan/mt.