SHANGHAI, Jan 9 (SMM) – Domestic output of didymium oxide in December 2022 stood at 5,134 mt, down 11% from November. Output fell across Fujian, Guangdong, Guangxi, Jiangxi, Jiangsu and Shandong to varying degrees.
According to SMM survey, a large number of separation plants and recycling companies reduced production or shut down in December due to the year-end issues, losses, maintenance or debugging. This exacerbated supply tightness of spot didymium oxide. Sellers raised their quotes and lower-priced cargoes were scarce. Prices of didymium oxide thus strengthened.
The output in Jiangxi and Jiangsu declined noticeably by 14% and 56%, respectively, from November. At present, the producers have resumed production and most of them said they will maintain normal production during Chinese New Year holidays. SMM predicts that the output of didymium oxide in January 2023 will grow slightly compared with December 2022.