Rare Earth Prices Retreat Rapidly amid Slack Demand

SHANGHAI, Feb 7 (SMM) - The rare earth prices continued to weaken as a whole today.

According to SMM, the mainstream transaction prices of PrNd oxide retreated to 736,000-742,000 yuan/mt. The prices of terbium oxide and dysprosium oxide were stable at 13,850-13,950 yuan/kg and 2,440-2,460 yuan/kg respectively. The prices of gadolinium oxide were lowered to 440,000-455,000 yuan/mt, and those of holmium oxide fell to 930,000-940,000 yuan/mt.

The mainstream transaction prices of PrNd alloy followed the decrease of PrNd oxide and contracted to 888,000-894,000 yuan/mt. SMM survey shows that the demand for PrNd alloy has not improved, and some metal factories have received no orders over the past two days. The inquiries on rare earth oxides were dismal, and the bullish sentiment quickly cooled. As a result, goods holders constantly cut their offers.

SMM estimates that rare earth prices will remain flat with downward potential in the short term if the sluggish demand remains unchanged.