Chinese New Year affected by the European part of the rare earth prices firm

Recently, the European market has an active rare earth business signs, mainly due to the impact of the Chinese New Year holiday, some traders to raise the offer, traders in stocks of small grounds, take the opportunity to raise prices.

Driven by China's State Reserve news this week, the European dysprosium and terbium prices also rose. According to the traders said, 2N terbium oxide prices go up higher than mid-January. At the same time, a trader said Chinese exporters current offer large range. European prices 2N dysprosium oxide rose last week $ 10 / kg.

As for the other rare earth elements, traders said 2N-3N Erbium prices also strong trend. Glass and ceramics manufacturers from Europe began to send some inquiries for prices. Erbium prices in the $ 44-45 / kg, no change from last week, but again compared to the previous week, compared with an increase of $ 2-3 / kg.

Hong Kong-based trader said the majority of transactions in Europe are mostly intra-European trade, no to new orders under China or Hong Kong traders.

As in March, after the Chinese New Year holiday prices will fall, is still uncertain. Some traders believe the market this year is different, the price will not necessarily decline.

They believe that in May, the interim 15-25% of the resources tax will increase to 22-35% level. This might further push rare-earth prices. There are also some traders believe that Chinese traders will be reluctant to sell stocks or until May higher prices and then sell them.

In addition, the Chinese market is expected to strongly purchasing and storage. A trader said the ranks of terbium, erbium, europium are purchasing and storage. China's State Reserve Bureau of purchasing and storage of 10,000 tons of rare earths last year, but not in the lanthanum and cerium in purchasing and storage range.


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