China’s REE Export Numbers Rise in February

China’s rare earth export primary materials increased by 289.12 percent in February, to 1,106 metric tons (MT), compared with the same month in 2012; prices continue to drop month-on-month.

An industry analyst told Metal-Pages that China’s exports of rare earths increased sharply in February because the country exported only 284 MT in the same period last year and was assisted when prices continued to fall throughout the month, which in turn encouraged buyers to restock.

The average price for rare earths in February was $22,650 per MT, down 11.32 percent compared with $25,540 per MT in January.

“Exports increased due to low prices. Many consumers will restock before March when sales are stronger. In addition, many consumers restarted production after the Chinese New Year in February,” the analyst added.

                  

China’s rare earth prices have continued to weaken, with little business reported on the spot market and producers unwilling to sell product at lower prices due to high production costs. Prices for light rare earths and some heavies, such as dysprosium and gadolinium are unchanged, while prices for rare earths of fluorescent powder, such as europium, terbium and yttrium, have edged down slightly.

Reports from Metal-Pages note that market participants remain bearish on the future of rare earths and are expecting prices to decline in the short term, with supply outweighing limited demand from downstream industries.

Traders confirmed that 99-percent praseodymium-neodymium metal is being offered at $61,984 per MT, while the Chinese 99-percent praseodymium oxide market remains quiet due to weak demand. Current prices for dysprosium oxide 99 percent are unchanged at $322 per kilogram, while prices for ferrodysprosium are still at $338 per kilogram, according to Metal-Pages.

China’s terbium oxide market has been described as flat with sporadic trading in the spot market. Industry sources state prices are likely to fall slightly in the near term given lackluster demand from the downstream fluorescent powder industry. Current prices for terbium oxide 99 percent are at $603 per kilogram.

The 99-percent cerium oxide market is sluggish due to weak demand, with most suppliers putting 99-percent cerium oxide prices at $5,956 per MT.


Rare Earth Manufacturer & Supplier: Chinatungsten Online - http://www.chinatungsten.com
Tel.: 86 592 5129696; Fax: 86 592 5129797
Email: sales@chinatungsten.com
Tungsten News & Tungsten Prices, 3G Version: http://3g.chinatungsten.com
Tungsten News & Tungsten Prices, WML Version: http://m.chinatungsten.com

• < Prev
• Next >