China's Rare Earth Market Was Oversupplied in April

SHANGHAI, Apr 20 (SMM) – China's rare earth market was oversupplied in April. This is because imports of unspecified rare earth oxides from South-east Asia surged, leading to abundant supply in the domestic market. Moreover, thin trades in rare earth market due to poor orders at downstream enterprises also contributed to the supply surplus.    

Bearish sentiment dominated rare earth market in April amid growing supply at home and abroad. The recovery of end demand remained slow. Poor orders and steadily falling PrNd prices drove most downstream buyers to delay purchases, leading to muted trades.