Pr-Nd oxide prices fell amid prolonged demand softness, even as China Northern Rare Earth (Group) High-Tech kept its December listing prices unchanged

Rare earth price stayed depressed last week. On December 1, the listing price of China Northern Rare Earth (Group) High-Tech in December was the same as that in November, making some separation plants confident in Pr-Nd market outlook, and thereby increasing their offers for Pr-Nd oxide. However, as magnetic materials companies saw poor order receiving, high-price transactions of Pr-Nd alloy were difficult to be monitored. Alloy plants still showed low willingness to purchase Pr-Nd oxide. Pr-Nd product prices weakened during last week.

Pr-Nd oxide prices remained weak last week. During last week, mainstream prices of Pr-Nd oxide dipped from 480,000-485,000 yuan/mt on November 30 to 462,000-466,000 yuan/mt on December 7, down 3.8% WoW. Pr-Nd alloy prices declined from 590,000-593,000 yuan/mt on November 30 to 570,000-575,000 yuan/mt on December 7, down 3.2% WoW. Prolonged demand softness and poor inquiry sentiment led to holders’ sell-off.