News News
Contact us
  • Customer service number:64321087
  • Commercial service telephone:13918059423
  • Technical service telephone:13918059423
  • Contact person: Mr. Cui 
  • Service email:shxtb@163.com
  • Address: room 107, building 8, no. 100, guilin road, xuhui district, Shanghai

Rare earth prices rally on potential commercial stockpiling

The date of: 2019-08-06
viewed: 3

source:SMM - Shanghai Metals Market (press release

SHANGHAI, Aug 5 (SMM) – Prices of spot, mainstream rare-earth products rallied last week, as expectations that Beijing will begin stockpiling for strategic reserves grew after a meeting in the prior week.

Prices of praseodymium-neodymium oxide rose from 287,000-292,000 yuan/mt on July 26 to 293,000-298,000 yuan/mt as of Friday August 2, with those of neodymium oxide climbing to 295,000-300,000 yuan/mt, showed SMM assessments.

Prices of dysprosium oxide advanced to 1.89-1.92 million yuan/mt, while those of terbium oxide increased to 3.93-3.95 million yuan/mt. Prices of gadolinium oxide rose to 165,000-170,000 yuan/mt.

The re-escalation of the trade tensions between the US and China also gave a boost to the sector. Rare earth-related stocks rose sharply on Friday, and rare earth spot sellers hiked their offers after a surprise tariff threat from US President Donald Trump.

Some traders expected further upside in prices of medium, heavy rare-earth products, and dysprosium oxide to rebound to around 2 million yuan/mt in the short term.

Most magnet producers, major consumers of rare-earth products, continued their on-demand procurement as a low season grinds on.

Data from China Customs showed that a total of 661 mt of mixed rare-earth carbonate were imported to China in June, down 75.9% year on year. Malaysia and Indonesia were the major exporters, while no Myanmar materials entered China.

Domestic production of rare-earth carbonate, meanwhile, remained low as the crackdown on the black market continued.

Raw materials supplies for medium, heavy rare-earth products are expected to remain tight in the long term, which will buoy prices.



Hot News / Related to recommend
Copyright ©Copyright 2018 2020 Shanghai rare earth association All Rights Reserved Shanghai ICP NO.05017621
the host:Shanghai Association of Rare Earth the guide:Shanghai Development and Application Office of Rare Earth the organizer:Shanghai rare earth industry promotion center
犀牛云提供云计算服务