Demand resumption lifted PrNd oxide, Nd oxide prices on week

SHANGHAI, Nov 25 (SMM) – Spot products of rare-earth oxides in China traded mixed last week, as consumption recovery lifted prices of praseodymium-neodymium oxide and neodymium oxide but continued subdued trades weighed on prices of lanthanum oxide and cerium oxide.

Improved downstream orders from metal plants buoyed prices of neodymium oxide from 281,000 yuan/mt on November 20, the lowest in nearly half a year, to 285,000-288,000 yuan/mt as of November 25, SMM assessed. 

Prices of praseodymium-neodymium oxide also recovered after slid, rising from an almost six-month low of 279,000 yuan/mt on November 20 to stand at 283,000-286,000 yuan/mt as of November 25. 

Major producers of dysprosium oxide firmed up offers on reviving demand, sending the average prices of the compound to close to a month high of 1.61 million yuan/mt as of November 25, according to SMM assessments. 

Prices of lanthanum oxide and cerium oxide, meanwhile, slipped to 11,750 yuan/mt and 11,300 yuan/mt, respectively, as of November 25 as consumption failed to pick up. 

SMM sees prices of dysprosium oxide edging slightly lower after the new round of procurement cycle. 

Prices of the so-called light rare earth, including praseodymium-neodymium oxide and neodymium oxide, may also pull back in the short term on potential higher supply as China raised the quotas of light rare earth output for 2019.