Can PrNd Product Prices Continue to Trend Higher amid Limited Demand?

SHANGHAI, Nov 18 (SMM) - The rare earth prices rose first and then fell this week. At the beginning of the week, Northern Rare Earth released the listed prices of rare earth for November, which was slightly lower than in October and eroded the market confidence. At the same time, the orders of magnetic material enterprises were not sustainable due to the limited downstream demand. As a result, the prices of PrNd products declined. As of the afternoon of this Wednesday, the positive news boosted the prices of dysprosium significantly, followed by a slight increase in PrNd prices. However, the downstream demand has remained sluggish so far, and the trades in the market were poor, thus the upward momentum for and PrNd prices is insufficient. In this case, SMM predicts that PrNd prices will keep moving sideways within a rather narrow range in the short term.