Strong positive LYC with production nominally 75% NdPr, 20% NdO & 5% PrO although ATM more likely something like 50% NdPr, 20% NdO & 5% PrO presuming they preferenced the NdO/PrO circuit to maintain that new customer base, and likely some small portion NdO & PrO going into specialty product formulation.
Still NdPr would be the major volume of the magnetics so the very strong price performance post CNY speculation would certainly boost +CF.
Reports China now sucking in monazite from wherever it can source it, suppliers now cutting out their external agents as they have no problems finding customers, at this point in the cycle. Understand any producer that cannot meet their allocated quota from domestic sources will have that quota cut unless they can meet it with imported feedstock, by the same token producers can over produce their quotas as long as they use imported feedstock to do so.
Speaks to some level of higher, sustainable, broad based demand, as does the massive expansion high grade NdFeB capacity, no doubt the usual ups & downs albeit new higher level, expect to see the monazite projects come thick & fast now, particularly with much higher base prices.
Unfortunately charts week behind but strength NdPr vs NdO quite evident, reference base 300 12 months ago:
Neodymium Oxide, RMB/mt
Avg.:525,000
Neodymium-Praseodymium (NdPr) Oxide, RMB/mt
Avg.:565,000
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