Praseodymium Neodymium Oxide Price - June 12, 2020

Rare earth market quotation in China: terbium oxide, neodymium oxide and praseodymium neodymium oxide prices continue to edge higher in the week ended on Friday June 12, 2020 due to improved trading activity and optimistic sentiment of market participants. 

In the light rare earth market, with the gradual recovery of downstream demand and the limited supply of raw materials, traders have a strong rised mentality, and mainstream product quotations have increased. As the economy of many countries is still affected by the epidemic and the geopolitical turmoil is still a big issue, insiders still worry about the outlook. 

In the medium and heavy rare earth market, the fundamentals are better. Firstly, driven by the higher activity of the light rare earth market, the confidence of smelting companies has also slowly increased, and the willingness to cut price is small. Secondly, the recent inflow of international goods into China is small and domestic mining production has been slowed down due to the impact of high-temperature and flood seasons. So suppliers keep firm offers, but there is still room for order growth.

China’s export of rare earth in May 2020 was 2,865.3 tons, a decrease of 21.3% over the same period last year; the amount of Chinese rare earth export in May 2020 was 190 million yuan, a decrease of 20.8% over the same period last year; China's rare earth export volume was 19,265.8 tons per month in 1-5 months in 2020, a decrease of 7.2% compared with the same period last year; China's rare earth export volume from January to May 2020 was 1.26 billion yuan, a decrease of 5.1% over the same period last year, according to data from the General Administration of Customs.

Prices of rare earth products on June 12, 2020

Picture of dysprosium-iron alloy

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