Rare earth price in China remains stable today. With the relevant departments involved to control the rally in previous prices, some small businesses or traders declined their supply, thus recent rare earth price has a callback. Most market participants still believe that the supply of rare earth would be tight overall.

Peninsula Mines (ASX: PSM) has divested one of its assets in South Korea, the Daewha molybdenum-tungsten project. The sale will generate proceeds of nearly $700,000.

The latest price of molybdenum concentrate and ammonium tetramolate slightly recovers and ammonium tetramolate price is unchanged from previous session. After more than a week’s adjustment, the market mentality becomes better, trading volume improves and price sees a steady recovery. The movement in the demand side needs to be followed. 

Price of molybdenum products on Aug. 31, 2017

Picture of molybdenum bar

The price of europium oxide, terbium oxide and praseodymium neodymium oxide continues to edge lower today. In the first half of 2017, illegal exploitation and production have made the oversupply of rare earth market reversed.