Rare earth market summary Jul 25-29

BEIJING (Asian Metal) 1 Aug 05 – Same as last week, the general rare earth market remained bullish, with major products’ prices hit new high. Buyers from both domestic and foreign markets feel that the neodymium oxide and praseodymium neodymium (PrNd) oxide were still in short supply. Meanwhile, the rare earth concentrate (REO92%) suppliers have increased the price to RMB37,000/t (USD4,574/t) ex works, which may further pushed rare earth oxide prices up.

A leading Baotou-based producer reported that the smelter has raised its neodymium oxide and praseodymium oxide prices to RMB60,000/t (USD7,417/t) ex works and RMB68,000/t (USD8,405/t) respectively, due to the strong market demand. Meanwhile, the source added that it has learnt that some local PrNd oxide suppliers have concluded for RMB55,000/t (USD6,799/t) ex works, compared to RMB53,000/t previously.

According to a North China-based neodymium metal producer, the smelter has quoted for nearly USD12/kg FOB, coping with higher production costs. The source explained that some Baotou-based neodymium oxide suppliers have quoted for RMB64,000/t (USD7,911/t) ex works.Asian Metal Copyright5kg FOB.Asian Metal Copyright

According to market participants, lanthanum oxide 99% prices in the Chinese market have rebounded slightly. Current deals of lanthanum oxide 99% were concluded for RMB12,300-13,000/t (USD1,520-1,607/t) ex works, compared to RMB12,000-12,500/t a week earlier. As the lanthanum oxide market recovers, Chinese lanthanum chloride (Less Fe&Mg) suppliers also raised their offers, with concluded price for RMB6,000/t (USD741/t) ex works.Asian Metal Copyright Meanwhile, a Jiangsu-based supplier told Asian Metal that it has raised the price for terbium metal to USD440kg FOB, up5%.Asian Metal Copyright

In view of the current oxide prices, rare earth metal producers reported that neodymium, terbium and dysprosium metals prices kept rising. A Beijing-based neodymium producer said Wednesday that it decided to raise the price to USD11.5/kg FOB, compared to USD10.8/kg previously. Meanwhile, a Jiangsu-based supplier told Asian Metal that it has raised the price for terbium metal to USD440/kg FOB, up5%.Asian Metal Copyright Meanwhile, the source added that it has learnt that some local PrNd oxide suppliers have concluded for RMB55,000t USD6,799t ex works, compared to RMB53,000t previously.Asian Metal Copyright

In the international market, however, foreign buyers began to reluctantly accept high prices, and believe the prices to be unreasonably high. A Guangdong-based praseodymium producer reported Thursday that its Japanese buyer refused the quotation for USD13.5/kg FOB.