This week, the price of Pr-Nd oxide showed a slight decline overall. The mainstream price of Pr-Nd oxide decreased from last Thursday's 360,000-361,000 yuan/mt to this Thursday's 359,000-360,000 yuan/mt, a decrease of about 1.1% WoW. The price of Pr-Nd alloy dropped from last Thursday's 448,000-450,000 yuan/mt to this Thursday's 443,000-444,000 yuan/mt, a decrease of about 1.2% WoW.
Recently, China Northern Rare Earth has been selling Pr-Nd alloy in the market, increasing the supply of Pr-Nd alloy in the market. Therefore, the price of Pr-Nd declined. In June, domestic dysprosium oxide production was 214 mt, down 0.6% MoM, with the reduction mainly concentrated in Guangxi and Jiangsu. Terbium oxide production was 40.8 mt, flat MoM. Gadolinium oxide production was 298.9 mt, down 2% MoM, with the reduction mainly in Jiangsu and Jiangxi. Holmium oxide production was 42.9 mt, down 1% MoM, with the reduction also concentrated in Jiangsu.
According to the SMM survey, miners showed a significantly decreased willingness to sell due to sharply compressed profits, making it more difficult for separation plants to procure raw materials. As a result, some separation plants in certain regions chose to reduce production. Additionally, some miners reported that due to heavy rainfall and frequent landslides in Myanmar, local mining companies had suspended operations and are expected to resume normal mining in September.
Currently, as China Rare Earth Group shows a strong willingness to sell dysprosium-iron alloy, the supply of medium-heavy rare earth metals in the market is relatively sufficient. The prices of medium-heavy rare earth products in July are expected to remain weak. This week, rare earth prices remained weak. The price fluctuation of Pr-Nd was smaller, while the price decline of dysprosium and terbium was larger. As major producers showed a strong willingness to sell rare earth metals, the market confidence was hit and more traders sold off, leading to a continuous decline in transaction prices of rare earth oxide.
Supported by costs, the price of Pr-Nd products is expected to gradually stabilise. Due to weak demand and low-price sell-offs by sellers, the prices of dysprosium and terbium products are expected to further decline in the short term. "Source:Shanghai Metals Market"
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