bad feeling , page-27

Smuggling is IMO at or close to China domestic prices.

6.13 = 1US$, so RMB 29,000/mt for cerium oxide = $472.72 or $4.72 per KG. Or 37% below FOB price.

Even allowing for 15% export duty and shipping and insurance this is a huge discount. The Chinese market is weak currently and thus one can assume more product is attempting to find its way out of China due to the leverage of the FOB pries.

Latest news of which is.

SHANGHAI, May 27 (SMM) – Prices for some rare earth products slipped during the past week with demand still weak.

Prices were RMB 30,000/mt for lanthanum oxide, RMB 29,000/mt for cerium oxide, RMB 367,500/mt for praseodymium oxide, RMB 275,000/mt for neodymium oxide, RMB 262,500/mt for didymium oxide, RMB 4,150/kg for europium oxide, RMB 1,475/kg for dysprosium oxide, RMB 125,500/mt for gadolinium oxide, RMB 65,500/mt for cerium misch metal, RMB 352,500/mt for praseodymium-neodymium alloy and RMB 1,525,000/mt for dysprosium-iron alloy.

Trading for rare earth products remained quiet last week, and most cargo holders reflected poor orders given depressed demand. Thus, prices for rare earth products fell, and downstream buyers were still unwilling to purchase despite lower prices.