Another week of downward pressure on All REE products from concentrate to magnets. Magnet prices fell across the board another 5 RMB this week. Concentrate fell from 35.8 to 34.1RMB WV / T Almost 5%. NdPr alloy fell from 540 to 522 3.3%. The gap continues to narrow between Aloys and oxides. This GAP has to increase before metal makers will pay more for their oxides. in early June I said that NdPrO would trade in a range of 450 ~ 550 RMB WV/ KG/ At that time. I figured it would break out on the high side in September or October. It has broken out in the last 2 weeks but not on high side but on the low side. it is now 423 RMB. Rember how when NdPrO was going up every up-ramper said every increase went to bottom line. I argued then that only about 80~ 90% did and I still believe that but why should not people believe profits are in big trouble and SP will follow. People that still have a buy or hold on LYC should think real hard on what these charts mean to profits and what that will do to Sp for at least the next 6 months and probably longer.
LYC Price at posting:
$6.71 Sentiment: Sell Disclosure: Not Held
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