Pr/Nd steady, small amount stocked by the government reserves

A bit disappointing...

http://www.info-re.com/index.php?/shop/article/3274

Pr/Nd steady, small amount stocked by the government reserves
2017-03-29 11:06:45


BEIJING (Info-RE) 29-Mar-17Praseodymium/neodymium market has been steady after the conference about the government reserves held yesterday afternoon.


Sources said that praseodymium/neodymium prices have seen little movement and both suppliers and buyers have been monitoring the market instead of actively coming into the market for trading.


Market players said that the new round of China’s national stockpile buying of rare earth will reserve 100 tonnes praseodymium/neodymium oxide, and all of the rare earth oxide will be supplied by Northern Rare Earth. The buying price is RMB273,000/tonne($39,677/tonne).


The purchase amount for praseodymium/neodymium oxide is too small as the current market price is much higher than the buying price of the national stockpile reserves and suppliers are not keen to sell to the government department.


As Info-RE reported, 99% praseodymium/neodymium oxide prices are holding about RMB280,000-282,000/tonne($40,695-40,985/tonne) at present, and prices might firm up further in the short term because of the relatively tight domestic availability.