Rare Earth Prices Continued Rising amid Poorer-than-expected Trades

SHANGHAI, Oct 10 (SMM) - In wake of the holiday, the rare earth prices continued to rise slightly. According to SMM, the mainstream transaction prices of PrNd oxide were raised to 690,000-700,000 yuan/mt. The prices of terbium oxide, dysprosium oxide and gadolinium oxide all went up and stood at 13,000-13,100 yuan/kg, 2,320-2,330 yuan/kg and 375,000-385,000 yuan/mt respectively. The prices of holmium oxide rose significantly to 730,000-750,000 yuan/mt. The mainstream transaction prices of PrNd alloy increased slightly to 830,000-840,000 yuan/mt, and the trades were poorer than expected. At the same time, Northern Rare Earth today announced the listed price of rare earth for October, which was flat from September. According to SMM research, rare earth oxide and alloy producers have been suffering some losses, thus goods holders hold prices firm amid tight spot supply. At present, the prices of rare earth are still on the rise, though the increase has been limited. The inquiries are active, but the actual transactions are muted. SMM predicts that rare earth prices still have room to rise.