Thanks for that article ridingricho ... what's not to love!
“Some exporters preferred to sell domestically amid a price rally driven by improved demand and tight supply last month,” said Yang Jiawen, an analyst at consultancy Shanghai Metals (SMM) Market.
China’s spot prices of praseodymium-neodymium oxide were up nearly 5% month-on-month at 428,000 yuan a ton on Sept. 30, SMM data showed.
Beijing’s implementation of new regulations on the industry from Oct. 1, lower-than-expected mining output as well as smelting and separation quota together with improved seasonally demand tightened domestic supply, supporting prices, said analysts.
Massive fiscal stimulus set to be unveiled by the CCP at end of this month which should strongly support rare earth demand and prices going forward into Q4 2024 and 2025.
LYC Price at posting:
$7.65 Sentiment: Buy Disclosure: Held
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