April PrNd Prices of China Northern Rare Earth, Albeit Down from March, Are Well Above Prices in Spot Market

SHANGHAI, Apr 10 (SMM) –On April 3, China Northern Rare Earth announced its list prices of rare earth products for delivery in April, with slight cuts in the prices of praseodymium-neodymium (PrNd) products. Its list prices of lanthanum oxide and cerium oxide were the same as in March at 9,800 yuan/mt. The details of PrNd product prices are as below: PrNd oxide at 639,000 yuan/mt (down 3,400 yuan/mt or 0.53% MoM); PrNd alloy at 782,500 yuan/mt (down 4,000 yuan/mt or 0.51% MoM); neodymium oxide at 705,800 yuan/mt (down 3,400 yuan/mt or 0.48% MoM); neodymium metal at 862,500 yuan/mt (4,000 yuan/mt or 0.46% MoM).

Its list prices of PrNd products, albeit down slightly from March, were well above prices in the spot market, boosting market confidence and driving PrNd product prices to rebound slightly at the beginning of last week. However, weak downstream purchases weighed on the mainstream transaction prices of PrNd products after the Qingming Festival.