Pr-Nd oxide prices dropped last week. Mainstream Pr-Nd oxide prices fluctuated downward from 405,000-407,000 yuan/mt on May 9 to 398,000-401,000 yua/mt on May 16, down 1.6% WoW. Pr-Nd alloy prices declined from 502,000-505,000 yuan/mt on May 9 to 495,000-500,000 yuan/mt on May 16, down 1.2% WoW.
Previous price speculation caused artificially high Pr-Nd prices, and downstream orders were still limited. Sellers, fearing a future price drop, started to offload cargoes, leading to a decline in Pr-Nd prices. Last week, rare earth prices began to decline. Major manufacturers halted procurement, deteriorating upstream sellers' confidence. Sellers increased shipments, and traders dumped cargoes at low prices, which resulted in weakening rare earth raw material prices.
Upstream transactions cooled, while downstream demand showed no significant improvement. The overall traded prices of rare earth products were relatively low, with intense back-and-forth negotiations between buyers and sellers. As most market players adopt a wait-and-see attitude, rare earth prices are expected to fluctuate narrowly."Source:Shanghai Metal Market"
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