SHANGHAI, Mar 16 (SMM) - Rare earths prices continued to drop today, and some traders liquidated their stocks and left the market with strong bearish outlook.

The mainstream prices of PrNd oxide in the market today was 1.02-1.03 million yuan/mt, down 10,000 yuan/mt from the previous day. Dysprosium oxide was traded at 2.95-2.98 million yuan/mt. Terbium oxide prices were lowered to 14.3-14.5 million yuan/mt. Gadolinium oxide was quoted at 645,000-655,000 yuan/mt in the mainstream market today, with some quoted at 630,000 yuan/mt. Holmium oxide was traded down to 1.88-1.9 million yuan/mt. Erbium oxide was traded at 380,000 yuan/mt.

Today, the mainstream transaction prices of PrNd metal was 1.28-1.3 million yuan/mt; the mainstream transaction prices of dysprosium iron dropped to 2.95-2.98 million yuan/mt; the prices of gadolinium iron were lowered to 620,000 yuan/mt today, the market inquiries stood weak; the holmium iron prices fell to 1.89-1.91 million yuan/mt.

Demand from downstream magnetic material enterprises were thin, and the rare earth market is expected to extend mild declines this week.