Rare Earth Prices Stopped Falling and Stabilised Last Week

SHANGHAI, Sep 19 (SMM) - According to SMM research, as of September 16, in terms of light rare earth products, PrNd oxide (daily average price) stood at 597,500 yuan/mt, unchanged from the previous week; PrNd alloy 727,500 yuan/mt, up 2,500 yuan/mt; neodymium oxide 655,000 yuan/mt, up 25,000 yuan/mt; neodymium metal 820,000 yuan/mt, up 25,000 yuan/mt; lanthanum oxide 6,975 yuan/mt, down 300 yuan/mt; cerium oxide 7,450 yuan/mt, down 300 yuan/mt, gadolinium iron 275,000 yuan/mt, up 20,000 yuan/mt; for heavy rare earth products, holmium iron prices stood at 605,000 yuan/mt, up 35,000 yuan/mt.

Rare earth products prices were flat from the previous week, and the prices of light rare earths rose slightly. On the supply side, the sudden outbreak of the pandemic in Jiangxi province, coupled with the Mid-Autumn Festival holiday and the afterwinds of the high temperature-induced power rationing, affected the production of rare earth enterprises, weighing on the release of rare earth capacity across the country. On the demand side, the end of the Mid-Autumn Festival holiday last week coincides with the traditional seasonal high usually comes up in September and October, and the downstream and terminal inquiries has increased to some extent.

The list prices of light rare earths disclosed by Northern Rare Earth fell sharply across the board.

The list prices offered by Northern Rare Earth for September 2022 are as follows: PrNd oxide 643,600 yuan/mt, down 20.31% MoM; PrNd alloy 788,000 yuan/mt, down 19.96% MoM; neodymium oxide 710,400 yuan/mt, down 19.83% MoM; neodymium metal 868,000 yuan/mt, down 19.52% MoM; lanthanum oxide and cerium oxide both 9,800 yuan/mt, unchanged from August.

Different from the list prices in the previous months such as July, the prices this time were higher than the market prices, which made it difficult for the suppliers to quote properly, and the market confidence weakened. Coupled with the slow release of downstream and end demand in the short term, it is estimated that the market prices of light rare earth products will be suppressed to a certain extent in the future.