How will the Rare Earth Market Change amid Tight Spot Supply

SHANGHAI, Oct 8 (SMM) - Before the National Day holiday, due to the outbreak of pandemic and the downstream restocking, the spot supply of rare earth was relatively tight, and the prices of many products in the market increased. The transaction prices of PrNd oxide once reached 670,000 yuan/mt, and the transaction prices of PrNd alloy also rose to 815,000 yuan/mt. Spot supply of middle and heavy rare earth oxides such as terbium oxide and dysprosium oxide was tight. Quotations offered by some cargo holders of terbium oxide stood at 13 million yuan/mt, that of dysprosium oxide were 2.3 million yuan/mt. Prices of other products such as gadolinium and holmium also rose slightly.
During the National Day holiday, some rare earth separation plants and magnetic material plants were suspended for vacation, hence the rare earth spot supply was still relatively tight. Considering that it takes about a month to process raw materials into finished products, the rare earth spot supply may be improved by November. Inquiries and transactions during the holiday market were also relatively deserted. The market quotations were still poor market today.