Pr/Nd prices rise on bullish market expectationsBEIJING...

Pr/Nd prices rise on bullish market expectations

BEIJING (Metal-Pages) 12-Jul-13. Praseodymium/neodymium prices have been firming in China during the past few days with suppliers continuing to raise offer prices because of bullish market expectations as a result of a strict government crackdown on illegal rare earths in Ganzhou.


Pr-Nd Metal 99% min China price for 11 Jul 2013

Market sources said that some suppliers are offering RMB380,000/tonne for 99% praseodymium/neodymium metal, and prices of about RMB370,000-375,000/tonne are accepted by some buyers, compared to about RMB350,000-360,000/tonne seen earlier this week.

A source at a Jiangxi-based producer said that the company sold a small batch of the rare earth metal at RMB365,000/tonne on Tuesday while for the moment it is easy to sell material at about RMB370,000/tonne.

Nonetheless, the source admitted that consumer buying from NdFeB producers has been less active than expected.

“NdFeB producers are restocking the metal on a hand-to-mouth basis with most still preferring to hold low inventories due to the traditional summer slowdown as well as weak demand from customers,” he said.

Meanwhile, some suppliers have also lifted quotes for 99% praseodymium/neodymium oxide to about RMB295,000/tonne and some business has been reportedly done at RMB285,000-290,000/tonne.

“Some praseodymium/neodymium metal producers are interested in restocking the oxide at about RMB290,000/tonne, and the oxide prices are likely to continue up in the days to come,” an official at a southern producer said.

A northern producer also reported that some actual business for the oxide has taken place at RMB285,000-290,000/tonne, up from about RMB280,000/tonne a few days ago.

“Market demand has remained less active than expected. However, supported by suppliers’ bullish expectations caused by government crackdowns on illegal rare earths, offer prices have been on the upward track and suppliers are in no hurry to sell stocks. As a result, some buyers have to accept high prices to restock praseodymium/neodymium in small amounts,” the source said.

-By Margaret Xue in Beijing