Rare Earth Market Report October 2015
2015-11-13 16:50:27 【Print】
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Baotou Huamei Rare Earth High-tech Co., Ltd. suffered a fire on October 7th. Baotou Huamei Rare Earth High-tech Co., Ltd. is a wholly-owned subsidiary of China North Rare Earth (Group) High-tech Co., Ltd. There was a rumor saying that North Rare Earth (Group) High-tech Co., Ltd. will halt production. As North Rare Earth (Group) Company is the biggest producer of PrNd related products, the prices for PrNd related products were supposed to go up in the coming one months if they would cease production. Therefore, suppliers were grudging in selling PrNd related products and raised the prices in early October. The prices for PrNd, dysprosium, terbium and gadolinium related products also showed uptrend. The six rare earth groups announced to reduce production to support price in mid-October, which continued to prop up prices for dysprosium, terbium and gadolinium related products further. Consumers halted production and the market witnessed reducing deals. Suppliers were in no hurry to sell and the prices for PrNd, dysprosium, terbium and gadolinium related products dropped. The combination of excessive supply and soft demand resulted in declining prices and slow buying activities in europium, yttrium, lanthanum and cerium markets in October. Suppliers had difficulty in making deals.
