China Southern Rare Earth lifted prices of medium, heavy rare earth oxides

SHANGHAI, Feb 25 (SMM) – China Southern Rare Earth Group, one of the six, state-owned rare earth mining groups in China, on Monday raised the weekly listed prices of several medium and heavy rare earth oxides including gadolinium oxide, erbium oxide and holmic oxide, while left prices of some other products unchanged. 

The adjustment lifted quotes of gadolinium oxide to 170,000 yuan/mt, up 7000 yuan/mt from a week earlier. Prices of erbium oxide and holmic oxide rose 3,000 yuan/mt and 20,000 yuan/mt, respectively, to stand at 158,000 yuan/mt and 350,000 yuan/mt. 

Listed prices of terbium oxide increased 250,000 yuan/mt on the week to 4 million yuan/mt, and prices of dysprosium oxide expanded 50,000 yuan/mt, and came in at 1.85 million yuan/mt. 

Listed prices for other medium and heavy rare earth oxides, such as samarium oxide and europium oxide, which were priced at 12,000 yuan/mt and 220,000 yuan/mt respectively, were flat on the week. 

In terms of spot prices, SMM assessments indicated that prices of terbium oxide continued to increase by 25,000 yuan/mt on the day to 3.9-3.95 million yuan/mt as of February 25, up 270,000 yuan/mt from a week earlier. Supply disruption on the coronavirus impact likely triggered the price increase. 

Prices of light rare earth, meanwhile, edged lower as greater volumes in the first batch of mining quotas this year kept downstream consumers cautious about restocking. SMM assessed prices of praseodymium-neodymium oxide at 280,000-285,000 yuan/mt as of February 25, down 1,500 yuan/mt on the week.