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Rare Earth Weekly News on Feb 18-22: Both supply and demand have declined, the trend of light and heavy rare earth are separated

March 1, 2019      Source:ruidow

Keywords:rare earth

This week, rare earth market has shown price ups and downs. The overall performance is not good. Demand weakness has shown at the beginning of the year. Mineral supply is also shrinking, diluting the downturn of rare earth market. The main characteristics are in two aspects:


  1. Demand contraction: led by rare earth permanent magnet, the downstream performance is flat. Feedback from Ningbo magnetic enterprises, orders did not increase after the Spring Festival, enterprise operating rate was about 50%, metal continued to be weak and stable, procurement was more prudent. In addition, polishing powder continues to be depressed, hydrogen storage alloy industry tends to shrink, and price rise of lanthanum-cerium light rare earth is difficult.


  2. Supply contraction: price is low and inquiry decreases. Metal enterprises produce according to orders, preferentially consume inventory. Metal oversupply leads to self-mediation. Myanmar mineral resources continue to be blocked, the supply reduction of heavy rare earth is obvious. However, price quotation of Dy oxide and Dy-Fb are flat, heavy rare earth upward movement is slow.


    Up to this Friday, the oxide price quotation is: Pr-Nd oxide RMB 308,000-312,000 per ton, Nd oxide RMB 310,000-314,000 per ton, Dy oxide RMB 1.24-1.27 million per ton, Tb oxide RMB 2.93-2.95 million per ton, Gd oxide RMB133,000-136,000 per ton. Pr-Nd prices decline, and Dy-Tb prices increase slowly.


    As of this Friday, quotations for some metal products are as follows: Pr-Nd metal RMB 392,000-395,000 per ton, Nd metal RMB 389,000-394,000 per ton, Dy-Fe metal RMB 1.24-1.27 million per ton and Gd-Fe metal RMB 140,000-145,000 million per ton.


    Metal prices hang upside down for a long time. As the price of Pr- Nd metal goes down, the competitive concessions among enterprises are close to the limit. Smelter feedback that most manufacturers have been unable to lower down the price, just waiting for the oxide price down, then they may make adjustments. The cost pressures spread to oxides, the ore price is rising again. Cost of oxides are close to selling price, and separating enterprises have no willingness to adjust price actively.


    Price of heavy rare earth metals is up. It is difficult to take orders from producers. Dy-Fe trade is sluggish.


    The divergence is in the market trend of heavy and light rare earth. The current differences will be adjusted, the weakness of Pd- Nd will be alleviated, and the strength of heavy rare earth will move forward.

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