China Praseodymium, Neodymium Market Implies That The Downward Movement

Beijing, October 20 (Argus) - weak spot market demand from China NdFeB magnets downstream industry is not enough today to knock praseodymium, neodymium prices.

Prices for praseodymium neodymium (Pr-Nd) oxide of 283,000-290,000 yuan/t ($46-47/t) are unchanged from 17 October. But the persistent lack of demand has led a number of suppliers to offer lower prices to boost cash flow — offers of Yn280,000/t have been heard in the spot market.

Suppliers expect Pr-Nd oxide prices to rise in the coming months, following recent initiatives by Beijing to seize illegal rare earth materials, but the impact has been limited.

Prices for Pr-Nd metal are steady, with suppliers keeping to offers of Yn370,000-375,000/t. Although a few producers are keen to lower prices to drive business and have made offers at about Yn368,000/t.

Downstream NdFeB magnet manufacturers have been sidelined by sluggish consumer demand, which will add downward pressure on Pr-Nd prices in the coming weeks.Source:argusmedia.com