Rare earth prices keep falling amid pessimistic market outlook 

Rare earth prices kept dipping last week. Given that sufficient supply outnumbered demand, most players were bearish about the market outlook, and holders kept lowering prices. Downstream buyers were not very willing to replenish goods, and aimed to meet rigid demand.

Pr-Nd oxide market remained bearish last week, with prices dropping from 510,000-513,000 yuan/mt to 500,000-504,000 yuan/mt, down 2% WoW. Pr-Nd alloy prices dipped from 625,000-630,000 yuan/mt to 615,000-620,000 yuan/mt, down 1.6% WoW.

Weighed down by prolonged demand softness, mainstream transaction prices of Pr-Nd products kept declining, leading holders to eagerly sell off and actively release offers.