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Northern Rare Earth raises Pr, Nd prices

09 Mar 2018 11:33 GMT
Northern Rare Earth raises Pr, Nd prices

Beijing, 9 March (Argus) — China's largest light rare earth producer state-owned Northern Rare Earth has raised its listed prices for praseodymium and neodymium prices for March delivery in response to tight spot supply after the lunar new year holiday.

The company raised its March listed price for 99pc praseodymium-neodymium oxide to 363,000 yuan/t ($57,281/t) from Yn332,000/t for February. Argus assessed prices for 99pc oxide at Yn365,000-375,000/t ex-works on 8 March, up from the previous assessment of Yn345,000-360,000/t ex-works on 6 March. Most suppliers were reluctant to sell their material in anticipation of a further rise in prices.

Northern Rare Earth's listed price for 99pc praseodymium-neodymium metal moved up to Yn462,000/t from Yn429,000/t for February. Producers have raised their spot prices since late February as a result of higher costs and tight supply. Argus assessed prices for 99pc metal at Yn465,000-475,000/t ex-works on 6 March, up from Yn445,000-460,000/t previously.

The company set its March listed price for 99.5-99.9pc neodymium oxide at Yn359,000/t, up from Yn332,000/t for February. Limited spot availability lifted the spot market. A number of suppliers have been reluctant to sell material in expectation of higher prices. Argus assessed prices for 99.5-99.9pc neodymium oxide at Yn365,000-380,000/t on 8 March, up from Yn350,000-365,000/t previously.

Northern Rare Earth's listed price for 99pc neodymium metal rose to Yn457,000/t for March from Yn429,000/t in February, driven by supply tightness and a rise in praseodymium-neodymium metal prices. Argus assessed prices for 99pc neodymium metal at Yn465,000-480,000/t ex-works on 8 March, up from Yn450,000-465,000/t previously.

The company's listed prices for 99.9pc cerium oxide moved down to Yn15,000/t ex-works for March, a fall of Yn500/t from February. Argus assessed prices for 99.5-99.9pc cerium oxide were unchanged at Yn13,400-14,100/t ex-works on 8 March. The firm's listed prices for 99.9pc lanthanum oxide remained stable at Yn15,500/t for March.

Northern Rare Earth is China's largest producer of light elements and many buyers and sellers use its listed prices as a reference.

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