Rare Deals in Praseodymium Oxide Market

Praseodymium oxide market keeps quiet with mainstream Praseodymium oxide price staying relatively stable at RMB390,000-420,000/t (USD62,595-67,410/t) now, without much change compared with those of last week.

A source from a separation plant in South China disclosed that praseodymium oxide market continues to see slow activities as consumers delay purchasing further. The mainstream praseodymium oxide price are in a range of RMB390,000-420,000/t (USD62,595-67,410/t) now, with little change compared with those of last week. “Consumers still hold wait-and-see attitudes towards the market and they are cautious in placing orders in bulk,” said the source. “As a result, rare deals are concluded in the Praseodymium oxide spot market.”

According to the source, the plant used to produce around 4 tons of praseodymium oxide per month and they failed to conclude deals last week.

A source from another separation plant in South China also confirmed that prevailing offers of praseodymium oxide hover at RMB390,000-420,000/t (USD62,595-67,410/t), without much change compared with those of last week. “A grim economy and soft demand from downstream industry encourage consumers to adopt hand-to-mouth purchasing strategies,” said the source. “We just hold stocks to watch the market further because we prefer to wait for the rebounding of praseodymium oxide demand as the stocks are depleted in the near term.”

"The last small deal was concluded at RMB400,000/t (USD64,200/t) with a regular client last week,” added the source, and revealed that the plant used to produce around 5 tons of praseodymium oxide per month.

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