BEIJING (Asian Metal) 14 Jul 15 - PrNd oxide prices declined by around RMB5,000/t (USD813/t) from those of one week ago to current RMB245,000-247,000/t (USD39,837-40,163/t) by cash payment. The market witnessed slow buying activities and buyers are in no hurry to rebuild stocks. Suppliers have difficulty in making deals. Some of them disclosed that as they are in deficit dealing at the current price level, they have ceased selling the material. PrNd oxide price is supposed to drop further in the coming week owing to the dim NdFeB magnet industry.
A producer in South China shared with Asian Metal that current PrNd oxide price goes down to RMB245,000/t (USD39,837/t) by cash payment, with a decrease of around RMB5,000/t (USD813/t) from that of one week ago. “We have halted selling PrNd oxide as we will lose money if we sell the material at current price level,” said the producer, who also claimed that the plant just runs at around 50% of production capacity now and separates about 100 tons of ion rare earth concentrate per month.
With an annual production capacity of around 600 tons, the plant produced 20 tons of PrNd oxide in June. Their output in July is supposed to be stable at 20 tons in July. The plant has about 50 tons of PrNd oxide stocks at the moment.
“PrNd oxide mainstream price drops to as low as RMB247,000/t (USD40,163/t) by cash payment now. As far as I know, a few traders are selling the material at RMB243,000/t (USD39,512/t). Our plant has been in deficit and we have ceased selling the material. I learnt that the majority of producers have halted making quotations and I believe most of separation plants will halt production in Q4,” said another producer in South China.
The plant owns an annual production capacity of 500 tons of PrNd oxide, and produced around 20 tons of the material in June.Its output of PrNd oxide in July should be steady at 20 tons. The plant holds an inventory of about 100 tons at present and is going to cease production in late Q3 or early Q4.
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