Rare earth product prices basically strengthened last week

SHANGHAI, Jul 21 (SMM) - Prices of didymium oxide trended higher and saw big volatility last week. On Friday (July 16) morning, SMM prices of didymium oxide stood at 560,000-570,000 yuan/mt. As of the afternoon, traded prices stood at 580,000-590,000 yuan/mt. Several manufacturers quoted at 600,000 yuan/mt, and downstream buying interest was weak.

Prices of praseodymium-neodymium alloy strengthened, and mainstream traded prices stood at 710,000-720,000 yuan/mt on Friday. Several quotations have risen to 750,000 yuan/mt.

Prices of didymium oxide stood at its second highest level for the year, following the highest level of 590,000-600,000 yuan/mt. Prices then dropped quickly. Metal factories are recommended to purchase according to orders.

Traded prices of terbium oxide edged up slightly last week. As of last Friday, mainstream traded prices stood at 7 million yuan/mt. Market bullish sentiment increased amid concerns over supply from Myanmar. Quotations of terbium has also risen, and actual trades in the market were limited.

Prices of yttrium oxide has risen significantly last week, and  spot supply was scarce. High prices sidelined traders. As of Friday, mainstream traded prices stood between 32,000-35,000 yuan/mt.

Prices of dysprosium oxide and dysprosium-iron alloy were stable at the beginning of the week. Inquiries increased amid concerns over supply from Myanmar, and sellers held onto their cargoes. As of Friday July 16, mainstream traded prices of dysprosium oxide stood at 2.5 million yuan/mt, and SMM quotes stood at 2.5-2.55 million yuan/mt. Dysprosium-iron alloy was quoted at 2.48-2.53 million yuan/mt.

Prices of lanthanum and cerium products were relatively stable last week. As of last Friday, lanthanum oxide was offered at 8,500-9,000 yuan/mt, and cerium oxide was offered at 8,900-9,400 yuan/mt. Several manufacturers reported an inventory backlog of lanthanum and cerium products, and slow sales driven by industrial competition. 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 oxide surged with prices of didymium oxide. As of Friday, mainstream traded prices of gadolinium oxide were 250,000-255,000 yuan/mt; gadolinium iron alloy was quoted at 230,000-245,000 yuan/mt. Magnetic material factories were cautious in purchasing, and trades were muted.

Erbium oxide was quoted at 195,000-200,000 yuan/mt, and several plants reported that spot cargoes with prices below 198,000 yuan/mt were hardly available. Samarium oxide was quoted at 13,000-14,000 yuan/mt, flat at the prior week.