Praseodymium oxide prices reach new high
2006-07-13 09:00:47 【Print】
BEIJING (Asian Metal) 13 Jul 06 – Spot prices for praseodymium oxide 99%min rose to a new high of RMB98,000/t (USD12,250/t) since early this week in China, pushed up by the tight supply of rare earth carbonate, the major raw material. Meanwhile, PrNd (praseodymium neodymium) oxide prices rose to RMB100,000/t (USD12,500/t) over the past few days, which prompted praseodymium oxide prices to climb up.
A marketing manager of a Baotou-based smelter reported a price of RMB98,000/t (USD12,250/t) for its praseodymium oxide 99%, compared to a price of RMB95,000/t (USD11,875/t) a week earlier.
“The rare earth carbonate is very tight in the spot market,” said the source. “Fortunately, we are based in Baotou, where concentrates most rare earth carbonate producers.”
According to the source, rare earth carbonate prices remain at around RMB6,300/t (USD788/t) in the local market.
Another domestic smelter confirmed the market situation and said that praseodymium oxide 99% prices rose to RMB98,000/t (USD12,250/t) over the past few days.
Based on the capacity, the smelter plans to process 30 tons of praseodymium oxide 99% in July, the same as last month, and will consume most of the material itself to feed the production of praseodymium metal.
