On June 3, China Northern Rare Earth announced the listing prices of rare earth products for June, with Pr-Nd product prices showing a slight MoM decrease. Pr-Nd oxide was offered at 384,800 yuan/mt, down 2.14% MoM; neodymium oxide at 393,200 yuan/mt, down 2.07% MoM; Pr-Nd alloy at 478,000 yuan/mt, down 2.05% MoM; and neodymium metal at 488,000 yuan/mt, down 2.01% MoM.
Entering June, with a decline in the listing prices of China Northern Rare Earth, rare earth oxide prices continued to fall, and most market participants held substantially low confidence in the future market.
Due to severe profit compression at the upstream mining end, suppliers started to hold prices firm and were reluctant to sell, while separation plants also reduced their shipments. However, according to the SMM survey, downstream magnetic material companies saw a significant reduction in orders compared to the beginning of Q2. End-users showed low expectations for the future rare earth market and held limited acceptance of high-priced raw materials. The upstream and downstream were in a stalemate. It is expected that the rare earth prices will fluctuate sideways.
