China PrNd oxide prices surge

BEIJING (Asian Metal) 10 Jun 05 – China praseodymium neodymium (PrNd) oxide prices have surged by over RMB1,500/t (USD181/t) to RMB47,500 (USD5,744/t), from RMB46,000/t (USD5,562/t) ex works mid-May, insiders reported to Asian Metal.

An official from a Baotou-based smelter reported that the smelter just concluded a PrNd oxide deal for RMB47,500/t. “The new price has been set at RMB48,000/t [USD5,804/t],” said the source.

According to the source RMB48,000/t was refused during late May, but now there are huge price increases in June for many rare earth products, including praseodymium oxide and neodymium metal.

A buyer in Guangdong confirmed the trend, concluding at RMB47,500/t early June. “The deal could probably be done for RMB48,000/t in the coming days provided the rare earth concentrate supply remains tight,” said a spokesman for the company.Asian Metal Copyright “The deal could probably be done for RMB48,000t in the coming days provided the rare earth concentrate supply remains tight,” said a spokesman for the company.Asian Metal Copyright

A smelter from Jiangsu revealed that much capital has been spent on raw materials and environmental protection. “We have to buy rare earth oxide from other smelters, which is a better value than purchasing raw materials,” said the source.