SHANGHAI, Mar 14 (SMM) - In February, magnetic material companies have completed their restocking, and the inventory was still sufficient. Hence the inquiries for mainstream rare earth oxides were rare last week. The mainstream transaction prices of PrNd oxide were 1.05-1.06 million yuan/mt last week, falling slightly compared with the prices a week ago. Transaction prices of PrNd oxide stood at 1.09-1.11 million yuan/mt early last week as the market was mostly wait and see. In the middle of the week, the traders actively make shipments after being warned by relative authorities, and the mainstream prices of PrNd oxide dropped to 1.07-1.08 million yuan/mt. And the prices dropped further and stabilised at 1.05-1.06 million yuan/mt approaching the weekend. The mainstream transaction prices of PrNd alloy dropped along with oxide, and stood at 1.33-1.35 million yuan/mt around the end of the week, down 40,000 yuan/mt from a week ago.
Due to the strong wait-and-see sentiment in the market at the beginning of last week, the mainstream transaction prices of terbium oxide temporarily stabilised at 15.1-15.2 million yuan/mt. Near the weekend, affected by the overall downward trend across rare earth market, the mainstream transaction prices of terbium oxide to 14.9-15 million yuan/mt, with a few traded at 14.8 million yuan/mt. Terbium metal was mostly traded at 19 million yuan/mt, a slight decrease of 100,000 yuan/mt week-on-week.
The yttrium oxide market has been active in inquiries last week, and overseas purchasing demand was strong. The mainstream transaction prices rose mildly to 92,000-95,000 yuan/mt. The prices temporarily stabilised ahead of the weekend.
The mainstream transaction prices of dysprosium oxide stood stable and dropped fractionally last week. The market inquiries were rare at the beginning of the week, and the prices stabilised at 3.1-3.13 million yuan/mt. In the middle of the week, the quotation was slightly lowered as the prices have been to high, and stood at 3 million yuan/mt approaching the weekend. Dysprosium metal prices fell with dysprosium oxide. Near the weekend, the mainstream transaction prices of dysprosium metal were 4.00-4.02 million yuan/mt, which was 20,000 yuan/mt lower than the prices a week ago. Due to cost advantages and certain substitutability, some magnetic material companies used more dysprosium iron to replace terbium metal, hence it is expected that the market demand for dysprosium oxide and dysprosium iron will increase.
