China Southern Rare Earth’s offer for terbium oxide soared by 500,000 yuan/mt

SHANGHAI, Nov 25 (SMM)—China Southern Rare Earth Group announced its latest listing prices for medium and heavy rare earth oxides. Prices of gadolinium oxide increased 3,000 yuan/mt to 176,000 yuan/mt, holmium oxide rose 60,000 yuan/mt to 505,000 yuan/mt, while terbium oxide prices soared 500,000 yuan/mt to 5.8 million yuan/mt.

Prices of many rare earth products increased last week on tight supply. Both offers and actual traded prices of praseodymium-neodymium oxide and neodymium oxide climbed last week on tight supply and firm demand. Meanwhile, rising raw materials costs and shortage of spot cargoes also boosted prices of metal praseodymium-neodymium and metal neodymium.

Prices of terbium oxide, dysprosium oxide and holmium oxide remained firm last week, but trades were moderate as most of the downstream users were cautious about restocking.

SMM expects prices of some rare earth products to rise further in the near term due to limited supply of spot cargoes and demand from downstream magnetic materials producers who held certain orders and kept low inventories.