SHANGHAI, May 22 (SMM) - Last week, rare earth prices rose to varying degrees. Under the active inquiries for dysprosium and terbium products, dysprosium oxide prices extended gains and rose 3% on the week, and prices of terbium oxide rallied from lows and ballooned 6% WoW.

Besides, according to some smelting and separation enterprises, with Myanmar entering the rainy season, the import volume of rare earth concentrates from the country might shrink in June, and the rare earth oxide output would also decrease accordingly. Therefore, spot cargo holders constantly raised their quotes.

More than 85% of unlisted rare earth oxides in China are imported from Myanmar. If the imports from Myanmar decline, the rare earth supply in China will decrease greatly. Accordingly, the oversupply caused by the substantial increase in import volume in the first quarter of 2023 will also be alleviated. SMM predicts that in the short term, the prices of rare earths will increase.