Rare Earth Market Remained Stable during CNY Holiday

SHANGHAI, Jan 28 (SMM) - Generally speaking, the rare earth market remained stable during the Chinese New Year (CNY) holiday. Goods holders basically offered no quotes and there are few inquiries amid thin transactions. It is worth mentioning that the sales of most enterprises were suspended during the holiday, but normal production was still maintained. However, the actual transactions fell short of expectations due to the stagnation of logistics and the shortage of spot goods. The prices of rare earth have risen significantly recently before stabilising when holiday started. The magnetic material enterprises already restocked before the holiday, and thus after the holiday they are expected to focus on the delivery of long-term orders that are placed earlier. In this case, the transactions of rare earth in the spot market may hardly improve.