Pr/Nd oxide offers up again, market sentiment bullish 2017-05-03...

Pr/Nd oxide offers up again, market sentiment bullish​

2017-05-03 13:30:17


BEIJING (Info-RE) 03-May-17 Praseodymium/neodymium oxide offer prices have moved up again during the past few days on support from the supply squeeze within domestic market as well as the expected another round of China’s national stockpile buying of rare earths.

Many suppliers are quoting about RMB292,000/tonne($42,442/tonne) for 99% praseodymium/neodymium oxide for the moment, up from about RMB290,000/tonne($42,151/tonne) seen last week.

It appears to be hard to obtain the oxide about RMB287,000-288,000/tonne($41,715-41,860/tonne) now and some buyers are motivated to restock the oxide about RMB289,000-290,000/tonne($42,006-42,151/tonne) at present.

The tight supply in spot market caused by the reduction in outputs due to stringent supervision on environmental protection, as well as the expected another round of China’s national stockpile buying of rare earths, is cited as the main reason for the rise in praseodymium/neodymium oxide prices.

Market sources said that another round of China’s national stockpile buying of rare earths might be launched in May even though the date is still unclear right now. Companies involved in the government reserves will continue to support prices at relatively high levels in the coming days. Consequently prices are expected to firm up again in the short term.

http://www.info-re.com/index.php?/shop/article/3312

Exactly how long does this need to go on for the penny to drop?

Lol, mkt must be still high on lithium.