Erbium Oxide Price - March 2, 2023

Rare earth market quotation in China: praseodymium oxide, neodymium oxide, terbium oxide and erbium oxide prices keep declining on March 2, 2023 mainly due to the lower than expected enthusiasm for inquiries and purchases from downstream users and the rapid growth of spot stocks of rare earth raw materials. 

Under the situation of oversupply in the market, traders generally have a strong wait-and-see mood. However, some suppliers are still willing to maintain firm quotations, supported by production costs and the risk that Lynas may face production shutdowns.

In terms of news: Shenghe Resources and Hedi Mining signed the "Cooperation Framework Agreement" and the "Purchase Contract for Bastnaesium Rare Earth Concentrate" at the end of 2022. It is agreed that within five years from 2023, Leshan Shenghe will provide Purchase rare earth concentrate equivalent to no less than 8,000 tons of rare earth oxides (REO).

Prices of rare earth products on March 2, 2023

Picture of erbium oxide

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