Rare Earth Market Continued Sluggish and Prices of Many Rare Earth Products Dropped

Published: Aug 4, 2022 14:57
The rare earth market today continued to be sluggish, and the prices of PrNd products dropped further. Some traders were cautious on the sidelines with bearish sentiments towards the market outlook.

SHANGHAI, Aug 4 (SMM) - The rare earth market today continued to be sluggish, and the prices of PrNd products dropped further. The mainstream transaction prices of PrNd oxide stood at 750,000-760,000 yuan/mt, with a few traded at 740,000 yuan/mt. The metal mills were cautious and only purchased on rigid demand at lows. PrNd alloy prices fell along with PrNd oxide prices. The transactions of PrNd alloy were poor with mainstream prices at 920,000-940,000 million yuan/mt. The mainstream prices of gadolinium oxide were 390,000-400,000 yuan/mt, with a small number of trades at low prices and scarce transactions at high prices. The prices of dysprosium and terbium products extended falling slightly. The prices of dysprosium oxide were 2.30-2.32 million yuan/mt, and that of terbium oxide stood between 13.75-13.80 million yuan/mt. The market was quiet with rare actual trasactions. In the spot market today: the prices of PrNd oxide and alloy both fell, and stood at 750,000-760,000 yuan/mt and 920,000-940,000 yuan/mt respectively; dysprosium oxide prices fell to 2.30-2.32 million yuan/mt, dysprosium metal prices stabilised between 3.05-3.1 million yuan/mt, and dysprosium iron prices declined to 2.30-2.32 million yuan/mt; prices of terbium oxide and metal were lowered to 13.75-13.8 million yuan/mt and 17.45-17.5 million yuan/mt respectively; gadolinium oxide was mainly traded between 390,000-400,000 million yuan/mt, and gadolinium iron 3870,000-380,000 yuan/mt; prices of erbium oxide declined to 310,000-320,000 yuan/mt. Due to the continued weak downstream demand, the new orders of magnetic material companies were insufficient, which led to less purchasing interest in PrNd alloy. As the raw material of PrNd alloy, PrNd oxide also saw a reducing demand. Some metal mills only restocked as needed and the actual trades were poor. Some traders were cautious on the sidelines with bearish sentiments towards the market outlook.
 

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Harena Rare Earths to Evaluate Acquisition of California's Heavy Rare Earth and Uranium Assets
48 mins ago
Harena Rare Earths to Evaluate Acquisition of California's Heavy Rare Earth and Uranium Assets
Read More
Harena Rare Earths to Evaluate Acquisition of California's Heavy Rare Earth and Uranium Assets
Harena Rare Earths to Evaluate Acquisition of California's Heavy Rare Earth and Uranium Assets
UK rare earth exploration company Harena Rare Earths signed an exclusivity agreement to evaluate the acquisition of Paradigm Critical Minerals’ heavy rare earth and uranium assets in California. The asset is located in San Bernardino County, about 100 miles from Mountain Pass mine, MP Materials’ rare earth mine, the only producing rare earth mine in North America. Historical drilling showed significant potential for the project, with surface exploration identifying a light-to-heavy rare earth ratio of about 50:50 and grab samples with TREO grades of up to around 2%. Uranium grades reached 10 times those of currently operating projects worldwide. Harena will conduct due diligence to advance the transaction, and the project will complement its ionic clay rare earth project in Madagascar.
48 mins ago
Critical Metals Invests $30M in Greenland Rare Earth Project for 2029 Production Launch
21 hours ago
Critical Metals Invests $30M in Greenland Rare Earth Project for 2029 Production Launch
Read More
Critical Metals Invests $30M in Greenland Rare Earth Project for 2029 Production Launch
Critical Metals Invests $30M in Greenland Rare Earth Project for 2029 Production Launch
US critical minerals miner Critical Metals announced a $30 million plan to rapidly develop the Tanbreez heavy rare earth project in Greenland. This funding will advance drilling, infrastructure, engineering design, and metallurgical programs, with the goal of commencing the first batch of ore production in Q4 2028 or Q1 2029, and starting rare earth concentrate exports in Q3 2029.
21 hours ago
Mosaic and Rainbow Rare Earths to Advance Project in Brazil with 2027 Construction Plan
21 hours ago
Mosaic and Rainbow Rare Earths to Advance Project in Brazil with 2027 Construction Plan
Read More
Mosaic and Rainbow Rare Earths to Advance Project in Brazil with 2027 Construction Plan
Mosaic and Rainbow Rare Earths to Advance Project in Brazil with 2027 Construction Plan
US fertilizer producer Mosaic and UK-based Rainbow Rare Earths agreed today to advance the rare earth project in Uberaba, Brazil. The two companies planned, based on the feasibility study results, to establish a processing plant in Uberaba, Minas Gerais, with the final agreement to be negotiated by a jointly owned project company. Construction is expected to take place in 2027.
21 hours ago