Rare Earth Market Report June 2016
2016-07-06 20:44:59 【Print】
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Chinese rare earth market continued showing downtrend and slow buying activities in June. There were two meetings about rare earth national storage, which were bidding meeting on 6 June and pricing meeting on 22 June, however, the national storage meeting failed to conclude deals and delayed to be carried out. With less interest on driving policies, producers lowered their offers due to softening downstream demand this month, and PrNd, dysprosium and terbium products’ prices moved downtrend over the past month. Taking the firm production cost into consideration, producers still held lanthanum, cerium, yttrium and europium products’ price stood relatively stable.
Affected by sliding prices in domestic market, in addition of weakening demand from downstream industry, overseas market kept inactive and importers and consumers delayed purchasing in June. As the July was usually the slack month for rare earth market, thus insiders believed that rare earth market in both domestic and overseas would keep dim in July unless the rare earth national storage in China would be carried out.
Affected by sliding prices in domestic market, in addition of weakening demand from downstream industry, overseas market kept inactive and importers and consumers delayed purchasing in June. As the July was usually the slack month for rare earth market, thus insiders believed that rare earth market in both domestic and overseas would keep dim in July unless the rare earth national storage in China would be carried out.
