Rare Earth Prices Keep Falling Today amid Weak Terminal Demand

SHANGHAI, Aug 2 (SMM) - The light rare earth market extended the weakness today, with prices of PrNd oxide and alloy falling further. Separation companies were not very enthusiastic in making offers. The mainstream prices of PrNd oxide stood at 770,000-780,000 yuan/mt. A small number of transactions were made at low prices, while transactions with high prices were suppressed. Metal factories were cautiously on the sidelines, and purchased on rigid demand in small amount. Magnetic material companies showed little purchase interest as the downstream demand was weak, and some companies reduced the production by 30%. The prices of dysprosium and terbium oxide dropped slightly to 2.32-2.33 million yuan/mt, and 13.8-13.9 million yuan/mt respectively. Gadolinium oxide prices fell along with PrNd oxide, and the mainstream prices were lowered to 400,000-410,000 yuan/mt, with few actual transactions.

The prices of PrNd oxide and alloy both fell, and stood at 770,000-780,000 yuan/mt and 945,000-950,000 yuan/mt respectively. Dysprosium oxide prices fell to 2.32-2.33 million yuan/mt, today, and dysprosium metal prices stabilised between 3.05-3.1 million yuan/mt; dysprosium iron prices declined to 2.32-2.33 million yuan/mt. Prices of terbium oxide and metal stood at 13.8-13.9 million yuan/mt and 17.5-17.6 million yuan/mt respectively. Gadolinium oxide was traded between 400,000-410,000 million yuan/mt today, and gadolinium iron 380,000-390,000 yuan/mt.