Rare earth market volatility

Rare earth elements market volatility narrowed expectations and caution coexist

From August 9 to August 13, the transaction price and volume of rare earth market were not good, the trend was relatively weak, and the fluctuation was narrowed. Praseodymium products market price trend performance is weak, mainly reflected in the first half week of small fluctuations, the later low transaction is visible. Dysprosium terbium products this week also increased the price of shipments, especially dysprosium oxide price range expanded. The market price of holmium products showed a correction this week. From the overall market trend, rare earth products in the lack of strong demand support, the price correction, weak trend.

This week, weak turbulence, rare earth oxides price movement, separation of enterprise is still in the condition of mine, tight, price rised steady mood, while traders mentality has obvious changes, traders fine-tuning quotation, on narrow, neodymium praseodymium oxide price is in 625000 yuan/ton, up and down in the north and the south of rare earth after listing price quoted, the market once restore some heat, but then take the initiative to offer more. The metal factory is less willing to receive goods, the operation appears cautious, leading to traders constantly let the price, the market performance is more quiet.Under the continuous extrusion of bulk inventory, the overall performance of separation and smelting end is stable.

As of August 13, the main rare earth oxide product quotations in the domestic market are: 

Lanthanum oxide market quotation (ex-factory tax included, spot exchange) is cny 8,200 / ton ~ CNY 8,600 / ton; 

The market quotation of cerium oxide (ex-factory tax included, spot exchange) is cny 8,600 / ton ~ CNY 9,200 / ton;

Praseodymium oxide market quotation (factory tax, spot exchange) is 620,000 yuan/ton ~ 625,000 yuan/ton;

Praseodymium oxide market quotation (factory tax, spot exchange) is 640,000 yuan/ton ~ 645,000 yuan/ton, neodymium oxide market quotation (factory tax, spot exchange) is 620,000 yuan/ton ~ 625,000 yuan/ton;

Dysprosium oxide market quotation (ex-factory tax included, spot exchange) is 2.68 million yuan/ton ~ 2.7 million yuan/ton;

Terbium oxide market quotation (factory including tax, spot exchange) is 8.5 million yuan/ton ~ 8.55 million yuan/ton;

Gadolinium oxide market quotation (ex-factory tax included, spot exchange) is 260,000 yuan/ton ~ 262,000 yuan/ton;

The market quotation of holmium oxide (ex-factory tax included, spot exchange) is 950,000 yuan/ton ~ 960,000 yuan/ton.

As of August 13, the domestic market price of some rare earth metal products are: 

Praseodymium metal market price (factory tax, spot exchange) is 765,000 yuan/ton ~ 770,000 yuan/ton;

Dysprosium iron market quotation (ex-factory tax included, spot exchange) is 2.67 million yuan/ton ~ 2.68 million yuan/ton;

Metal terbium market quotation (factory including tax, spot exchange) is 10.5 million yuan/ton ~ 10.6 million yuan/ton;

Gadolinium iron market quotation (including factory tax, spot exchange) is 260,000 yuan/ton ~ 265,000 yuan/ton;

The market quotation of holmium iron (ex-factory tax included, spot exchange) is 960,000 yuan/ton ~ 970,000 yuan/ton.

Since August, the periodic replenishment of magnetic materials has been completed. Although the production cycle of some orders has continued and the price increase has been put on the agenda, on the whole, most of the downstream of the rare earth industry think that the current procurement time is not appropriate, after all, the current price is still high. Myanmar mines will not be able to advance in the short term, environmental protection is also being implemented as the epidemic slows down, the power shortage has not eased, and the supply side is still tight. 

Rare earth separation plants are in short supply, which also gives rare earth industry enterprises the impetus to maintain stability.

Although the market price regulation of praseodymium products is in a state of game, but rare earth separation and metal factory in the successive delivery is still in a state of caution, the market, low price of the spot is difficult to find, high transaction is relatively difficult, praseodymium upstream and downstream enterprises stalemate or will continue.Dysprosium and terbium products were cold and at high prices this week, with cautious purchasing and high inventories of dysprosium oxide leading to a stronger price correction for dysprosium products.

In this regard, ruidao metal network analysts expect, downstream, some magnetic enterprises to take the lowest proportion of long association procurement, inventory rate generally maintained near the rigid line, some enterprises waiting for downstream lock order procurement, a small number of magnetic enterprises to suspend production. 

At present, the market price of mainstream rare earth products has little room to slide, but in the short term, there is no purchasing power. Because of the oxide cost pressure highlights, even traders and scrap enterprises quotation is difficult to promote rare earth oxide market prices are likely to be sharply reduced, so the possibility of a reversal in the next week is unlikely; The market price of heavy rare earth dysprosium terbium products is likely to be lower or slightly reduced. After all, traders are easy to cash out under the judgment of various news sources. From the perspective of the motivation of large enterprises, the market participants still tend to maintain stability, and the expectation and caution coexist.